Finding a destination city in the US such as LA, Miami, New York and hosting a major F1 event. Creating ways that small teams can be viable both competitively and financially. Creating a race promotion package that will financially support and grow western European races as well as the British GP.
All of these things are terrific goals for the new owners of Formula 1 and while Chase Carey and Ross Brawn have strong thoughts on these and many other facets of F1, it will take time to start many of these changes.
The excitement of acquiring a new sport and sharing with the world your intentions and plans is always high but you’ll have to give Carey and crew some space as they are dealing with existing individual contracts with the teams that don’t expire until 2020 as well as broadcasters and the FIA.
From the fans perspective, a healthy grid with teams that are viable both financially and competitively is a big issue as they feel this would improve on-track performance and entertainment values and they may not be wrong in that notion. Ross Braw, says:
“We need to find solutions where the small teams can stand on their own two feet and put up a good challenge to the hierarchy of Formula 1 and stand on their own two feet commercially,” Brawn told Sky Sports News HQ.
“At the moment it is a big challenge for them, it is too big a challenge, and we need to find ways in future of having a healthy Formula 1 from top to bottom. Perhaps finding ways of making sure those small teams become an attractive and valuable element of Formula 1, not only on the track but as businesses.”
“We have a contract with the teams until 2020 so nothing is going to change substantially before then unless all teams agree,” Brawn added.
The key here is if the teams are willing to engage Liberty Media early and re-negotiate their contracts but keep in mind, there could be a component of those new deals that would see large teams be offered less and that’s not likely to be something they are willing to sign up for early. It all depends on how good of a negotiator Chase is.
Expect changes in F1 this year but don’t be discouraged if the biggest changes aren’t recognized until 2020 and beyond.
Hat Tip: Sky Sports F1