Last Week We Wrote…

November 19, 2014 Comments (2)

Last week we wrote a piece about the troubles within F1. Alain de Cadenet chimed in with his thoughts about the genesis of today’s issues. We follow up this week with a few suggestions. What do you think?

Money in Formula 1

F1 has two issues but they both boil down to the same thing. Money. The cost of running a team in F1 is too high but for a few. Initially supported by racecar manufacturers, wealthy businessmen and sportsmen, the advent of tobacco company money and big advertising changed all that. Today there remain two self-funding car company teams, one is rich and the other is struggling. The remainder of the teams is dependent on sponsorship to survive. That brings us to the second issue. The price of staging a race is prohibitive. Organizers depend on ticket sales for the major portion of their revenue. It is judged that attendance was down 50% in Brazil and the numbers for Russia were not good and not publicly available. These are not the only places where the gate is down. All is not well in paradise.

Alain de Cadenet added…

Peter… take a look back into the history of all motorsport and you'll see that just as soon as additional funds became available through so called sponsorship, the whole aspect of that formula became contaminated. Everyone putting in wants something to take out. Traditionally it was a sportsman obtaining joy. Drivers obtaining glory. Spectators obtaining thrills and experiencing danger second hand. All real, tangible activities. Rather analogous to traditional investments in tangible substances like gold, silver, platinum, iron, corn, wheat etc. even pork bellies. Lo and behold along came derivatives, bank products, .com and other surreal ways to profit. And lose plenty when it goes wrong.

Isn't this the path that motorsport has followed? The show-business factor excels way more than the racing. When you have to invent ways to overtake and ways to conserve fuel then that's not really racing. Gold bars or certificates? No wonder the vintage-classic car market has gone ballistic. It's all gone wrong and we've lost plenty. Unless you still own the old banger you bought years ago.

Alain

What do you think?

In a few lines we have identified a few of the issues and some history; question is, what to do?

A quick view of open wheel racing would show that F1 eats money. The team that just collapsed had 200 employees. And they bought engines and transmissions. How many do you think Ferrari and Mercedes employ for their F1 effort? Competitive IndyCar teams consist of as few as 20 people. How about taking the best of both and making a 20 race series on both sides of the pond.

Who’s in?

IndyCar had 11 different winners. F1 had 3. The F1 engine manufacturers have made it plain that if the formula goes back to the previous V8 models preferred by fans, they are out. Say goodbye. Chevy and Honda are competitive and their engines don’t cost 10% of an F1 engine. Do you care who builds the engine? Do you care who builds the chassis?

Changes: IndyCar needs to stop racing in parking lots and get back to racetracks, even if they aren’t near a major shopping mall. F1 has to race where people who give a damn can see the race. And ovals can be part of the deal. Ten races in Europe and ten in America. Bernie and his greedy buddies have to be out. 

What do you think? Leave a comment below and let us know.

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Comments (2)

  1. John Starkey:
    Nov 21, 2014 at 07:42 AM

    Unfortunately, in this World, money trumps all, so as long as CVC and Bernie are at the helm, siphoning off the money which should go to the teams, nothing will change. Of course, the spectators at both the circuits on those watching Television may simply decline to watch…...

  2. JT Fangio:
    Nov 21, 2014 at 11:36 PM

    The trouble with F-1 is greed and greed, followed by more greed. Bernie the Dwarf is forcing the indies out of business. That is a given. There are TOO damn many races. When there were 12 to 15 races a year interest in the Championship was at a fever pitch. Now with a season that stretches from March to November, people lose interest. Need proof, look at the declining attendance and declining interest in the Sport.
    For what it is worth, I suggest sending bernie to an assisted living community, shorten the season to 15 Races, drop Russia and bring back the French GP, share the wealth more evenly, so that the Privateers can survive, back off on some of the techno crap, and let the best drivers race. Just one long time crank's opinion.


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