“As part of the longer-term deal, discussions will continue regarding the location for the grand prix from 2023 with further details to be provided at a later time.” “The step from the gesture to be helpful to F1 in 2021 to a long-term strategy was short and simple and the vision for F1 to be the showcase for Qatar after the FIFA World Cup in 2022 was the driving force behind this long-term agreement. The deal means that the Qatar Grand Prix will also join the calendar for 10 seasons from 2023, with there being no race in 2022 as the country hosts the FIFA Football World Cup.Ī spokesperson for F1 said: “There was a strong will from Qatar to be helpful to F1, and in the course of this process, the vision for a longer partnership was discussed and agreed for 10 years. It will be the first time that F1 has raced at the Losail International Circuit, which has long hosted the opening round of the MotoGP season.Ĭonfirmation of the Qatar race on 21 st November means that teams now face a globe-trotting triple header, with the Qatar race following on immediately from the Brazilian and Mexican Grands Prix in South America. Formula 1 has confirmed that its 2021 season will be completed with the addition of the first ever F1 Qatar Grand Prix. “We were wondering if Formula One was really a good investment to pursue.Update: Qatar Grand Prix completes 2021 F1 calendar " going to help us because no one will be able to throw money at problems and basically move faster than the others,” he said in an interview. Laurent Rossi, the new CEO of Alpine, the rebranded Renault team, wholeheartedly supports the changes. To keep costs down, F1 teams will be using cars from last year. A spending cap was implemented in 2020 to make F1 more sustainable, with the upper limit for 2020 set at $175 million, and lowered in 2021 to $145 million. Teams, too, are being affected by new business strategies. Revenue improved significantly over the same period in 2020, up from $24 million to $501 million, and the outlook for the next two quarters and 2022 is optimistic. Next year, F1 will hold a race in Miami on a circuit set up around the Miami Dolphins’ stadium.į1 posted solid earnings for Q2 in 2021, in spite of ongoing lockdown restrictions around the world. In Austin, F1 will commemorate the National Basketball Association's 75th anniversary season by bringing NBA stars on site. To achieve it, F1 is collaborating with America's more established sports leagues. The goal for the next few years is to double or even triple those numbers. But Targett-Adams admits there is still work to do. represents F1's the fastest-growing market, with 36 million fans, a TV reach of 28 million and 2 million social media followers. Targett-Adams credits mainstream media, social content, “and obviously, the amazingness of Netflix's Drive to Survive and our celebrity and influencer program." Co-produced by F1 and the streaming platform, the documentary series is a bona fide hit, giving fans a compelling look behind the scenes at the races and teams. "I think part of that is because we've managed to create, or we are in the process of creating this presence, 365 days a year.” "We've had strong audience growth with live race audiences up 62% versus the season average for 2020," said Chloe Targett-Adams, F1's global director of race promotion. Over the past three years F1 expanded its social media content and ramped up gaming and streaming. “What we really want is to get a female Formula One driver at some point in the next five to 10 years,” Allen said, “and there’s no physical reason why it shouldn’t happen.” Female participation has nearly doubled, according to the 2021 survey, to 18.3%, and student-age responses increased to 26%, up from 18% in 2017. The global F1 audience is on average 32 years old, four years younger than it was in 2017. “What this survey shows is that you’re getting younger audiences coming in,” James Allen, the president of Motorsport Network, said in a phone interview. focus, opportunities are sprouting all around for the racing circuit.Īccording to F1 Global Fan Survey results, F1 has seen greater interest and engagement from a “more diverse and evolving fanbase” since U.S.-based Liberty Media’s $4.6 billion takeover in 2017. The Circuit of the Americas in Austin, Texas, is gearing up to host a sold-out Formula One race this weekend, and while North America’s only grand prix for the 2021 calendar is central to F1’s U.S.
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