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“It’s a Good Problem To Have” – F1 CEO Mentions Shocking Possibility of a 30-Race-Calendar
Formula 1 is one of the most popular and glamorous sports in the world. Over the years, it has witnessed an exponential growth in terms of viewership and brand value. Sports analysts and experts often credit the Netflix series “Drive to survive” for the notable surge in the sports popularity. This season saw record-breaking engagement from fans around the world.
The Liberty Media acquired F1 for $4.6 Billion in 2017. Since then, they have made some remarkable changes, including a budget cap and measures to make prize distribution fairer than the existing system. Moreover, they attempt to make the sport more competitive and financially viable.
The 2022 season comes with a 23-race calendar including the first-ever Miami GP. F1 CEO Stefano Domenicali recently discussed the growing possibilities in F1 and a chance of hoisting 30 races per year.
NOIDA, INDIA – OCTOBER 26: Ferrari Team Principal Stefano Domenicali attends the official press conference following practice for the Indian Formula One Grand Prix at Buddh International Circuit on October 26, 2012 in Noida, India. (Photo by Mark Thompson/Getty Images)
F1 CEO says it is a great time for the sport
As per the ESPN analysis, the 2021 season average of 934,000 viewers was up 54 percent over the 2020 season average of 608,000 viewers. It easily speaks for the growing popularity of the sport. In a recent interview with the Race, Domenicali said that they base the fresh additions on strategies and there is a limitation to the number of races they will hold in one season.
“We are living in a great moment for Formula 1, there’s no doubt.”
“In terms of sporting intensity on the track, in terms of interest from stakeholders, from the public, a new audience coming in and a new way of talking with the new audiences, and having a clear path in the regulations for a future that is very relevant to our DNA,” said Domenicali, as reported by The Race.
Formula One F1 – Abu Dhabi Grand Prix – Yas Marina Circuit, Abu Dhabi, United Arab Emirates – December 12, 2021 The drivers pose for a photo before the race REUTERS/Hamad I Mohammed
Over 30 venues a possibility
He clearly mentioned that signing over 30 venues is not a big deal for F1. However, many believe, and he also agrees that it is not viable for the sustainability of the sport.
“I think that with no doubt, without any kind of limitation that is correct to keep, there could be easily over 30 venues that we could do [a deal with] tomorrow, but we cannot go in this direction.”
“It’s a good problem to have, to manage the most important in terms of strategy, in terms of business, in terms of the future of where we have to go,” he added.
“There are so many things that are evolving. But I think these are all positive elements for the growth of Formula 1.”
However, there has been widespread criticism of the arduous working schedules in F1. With a staggering rise in the sport’s popularity, the financial arm of F1 looks fit as a fiddle. But there is a human aspect to this debate as well, and F1 will hopefully evolve positively towards it. Chip in your opinions on this in the comments section.
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