Manufacturer support in motorsport often goes through boom-and-bust cycles and it is for this reason that Porsche Motorsport’s vice president Thomas Laudenbach warns that privateers should be treated well. It is all part of a very quiet Business of Motorsport this week.
Also covered in this week’s edition of BoM is how F1 navigated itself to its current wave of popularity, the future of NASCAR beyond 2024 and how motorsport sponsorship is changing.
All this plus the latest sponsorship deals and partnership developments as well as team news from around the world. It is all in this week’s edition of the Business of Motorsport Roundup on Motorsport Prospects. Your source for the best curated motorsport-business news that racers can use.
Motorsport Industry News
Sportscar racing is undergoing an unprecedented boom right now with more manufacturers than ever. But as Porsche Motorsport’s vice president Thomas Laudenbach warns, retaining customer teams in Hypercar is key in the event that manufacturers decide to exit the World Endurance Championship’s top class.
“Laudenbach fears that if big manufacturers were to leave there might be too few privateers to save the day, as the likes of Alpine, Glickenhaus and Rebellion did when Toyota was the only OEM still involved in WEC’s top class following Audi and Porsche’s defection from the series in the late 2010s.”
Is It Fast looks at How Formula 1 Navigated Itself to Popularity Peak. “This is where Liberty Media came into play. The group with an appetite for change swooped in with a $4.4 billion check, took the wheel, and kicked off a marketing makeover that adopted F1 into the 21st century. The first order of business? Saying goodbye to Ecclestone’s notion that youth was penniless and social media was pointless.”
As NASCAR prepares for their 2024 season, Forbes writer Greg Engle writes that the future of the series including where the series will race, who will be racing, what manufacturers will be involved and how costs will be controlled in 2025 and beyond could be revealed this year.
“NASCAR has made no secret of the desire to add another OEM to the field. In its history over 30 manufacturers have raced in NASCAR. Since 2012 though only three have fielded efforts: Chevrolet, Ford, and Toyota. But a new one could finally be announced in 2024.”
Forbes explains how the Veloce VEXT Web3 Token Could Change The Future Of Racing.
“Now, apply that to our real-world racing team,” continues Bailey. “We can provide decentralized decision making to our fan base. Fan engagement is the future of sport. We started by offering VEXT token holders different liveries for our Extreme E car and the livery that they’ve chosen is fantastic. It’s a great showcase of what we’re planning on doing with VEXT. This is a multi-year project. We can’t change the world of sport entertainment in day one. We see ourselves as a modern rights holder in racing. Our assets sit across Esports gaming, purpose-driven sport and now decentralization of sport, media, and content through Web3. Going forward, the plan is to continually give VEXT token holders more decentralized decision making on the future of our business and the racing team. That not only means liveries, but what legacy projects they want us to support that are closest to their environmental concerns.”
Quick Takes on the Business of Motorsport This Week
- Three predictions for the motorsport industry in 2024 (BlackBook Motorsport)
- RACE INDUSTRY WEEK 2023 was Spectacular – Watch The Recordings (Epartrade)
- Revolution appoint their fourth Certified Dealer in the USA (Revolution Race Cars)
Motorsport Sponsorship & Partnership News
Here are the latest motorsport sponsorship deals, partnerships and related analysis that were announced this week.
- Why a long-held tenet of F1 sponsorship is beginning to change (Autosport Plus)
- Klotz Synthetic Lubricants and Cometic Gasket Become Sponsor for Davey Hamilton Jr. For the 2024 Season (Speedway Digest)
- Formula E inks broadcast deal extensions in France, Italy (Formula E)
- Formula E set for free-to-air broadcast in Germany, Austria with Red Bull Media House, DF1 and Servus TV (Formula E)
Team & Manufacturer News
Here is a roundup of the latest team news from around the world of motorsport.
- Pfaff Unveils McLaren 720S GT3 Evo Livery (Sportscar365)
- ST Racing Confirms Series Return With Verhagen, Tan (Sportscar365)
- Team LeMans Reveals Switch to Ferrari 296 GT3 (Sportscar365)
- Rutronik Expands to Sprint Cup; Appoints Graf as Team Boss (Sportscar365)
- Floyd Mayweather’s The Money Team Racing Maps Out Its Future (Forbes)
- Renamed Stake F1 team reveals new logo (Autosport)
- 99motorsport confirms 2024 TCR Australia entry (Touring Car Times)
- Inside Dakar with Red-Lined Racing (Motorsport Week)
- DragonSpeed Adds Simpson; Confirms Endurance Cup Entry (Sportscar365)
- TF Sport aiming to take Corvette GT3 car to Spa, Nurburgring 24-hour races (Autosport)
- What was behind a Formula 3 giant’s 2023 struggle? (Formula Scout)
- Stephens, Webb Move to GS in JMF Motorsport Expansion (Sportscar365)
- CDR Valkyrie Joins GS Class With Supra GT4 (Sportscar365)
- Rockwell Autosport Confirms Daytona TCR Plans (Sportscar365)
- PHM Racing signs five drivers, including an F3 racer, for Formula 4 UAE (Formula Scout)
- Brad Keselowski, RFK Racing Considering Expansion to IMSA SportsCar Series (AutoWeek)
- Young’s Motorsports adds Xfinity programme with Honeyman (The Checkered Flag)
- Abel aims to follow Indy 500 return with full-time program in 2025 (Racer)
- Porsche Penske Motorsport eyeing three hypercar Le Mans 2024 attack (Autosport)
- AO Racing’s Rexy Stomps Up To GTD Pro