Formula One Racing

Posts Tagged ‘Bust’

Monte Carlo a must? What is your image of a Formula 1 driver in a free afternoon? It is more likely that a casino in Monte Carlo sipping a cocktail, a Rolex on his arm, a former Miss World and the other a stack of chips on the table. What is the equivalent of an image of NASCAR driver? A bar of neon in a rustic town in the Deep South, a beer in one hand and a Marlboro in the other and a bag of chips on the table? Well, both extremes are exaggerated and the image of two pilots may be a bit dated, but the fact is that F1 has, consciously or not, developed an image of the glamorous jet-set and exclusivity that has been done in every other sport on earth. And much of this picture is due to the legacy of the sport in Europe, where rich playboys ran through the streets of Monaco as royalty, movie stars and business tycoons, seen from luxury yachts. Why Bernie Ecclestone has recently announced that the Grand Prix of Monaco was the last European race in its search results? Basically Ecclestone said that the Europeans are paying too small circuit to host the Grand Prix and Monaco, which paid nothing, was the first in the Dock. This week has been registered with a new contract for ten years. The incident has highlighted some serious problems which the F1, which sponsors, without whom the sport would not exist, need to keep an eye on. Ecclestone attacks in the European circuits are well justified. It has, for example, has also criticized the level of spectator facilities, particularly in the British circuit of Silverstone, which will inevitably be much lower than those of new facilities in the Middle East and Asia. The real problem, but, is that trade must be an F1 event truly global mass to attract television and sponsorship revenues and to a few races to be abandoned. In recent years, China, Malaysia, Bahrain, Abu Dhabi, Korea, Singapore, Istanbul and were added to the list and the plot is to bring Russia, South Africa and India in the years come. And Austria, San Marino, France and Germany hosted the European Grand Prix has been removed from the agenda (although the European Grand Prix is a street race in Valencia). Bernie Ecclestone is, of course, is not stupid. He has made hundreds of millions of dollars of commercial rights to Formula 1, but this was his last statement on the European circuit, including Monaco, currency exchange and lack of vision? To make a showcase of the world, it was inevitable that some European races had to be sacrificed. The schedule was too packed to expand internationally while retaining many of a geographic area. From a purely commercial perspective, the European circuits have already struggling to compete with Asia and the Middle East in particular. Places like Malaysia, Bahrain and Abu Dhabi, for example, it is estimated that the Grand Prize for political purposes. National governments can see the enormous prestige associated with hosting the event and are pleased to subsidize the construction of prior art circuits and annual payments for the right to host the races. This is no longer equal with European governments unwilling to provide such subsidies. European route belonging thus hard to reconcile the need to pay fees for accommodation with the need to invest in new facilities, which can reach tens of millions of dollars. Silverstone, for example, could really do with $ 150 million (and perhaps more) to build new grandstands and spectator and career centers. Has already begun a building program, but finding a return on investment is hard when the installation is only a few weekends bumper (which also hosts MotoGP in the UK) each year. But what the fantastic European circuits are proposed large crowds of fans and connoisseurs, something that can not be said of some of the new headquarters. Ecclestone knows that bumper payday receive these channels means that, financially, and make a circuit, it is imperative to keep the Grand Prix. The danger is that they will go bankrupt trying to square the circle. And the danger for F1 is that in his eagerness to go global, you could lose a substantial part of its brand equity. The sport has probably lost much of its companies have taken on people. Frank Williams is the only team owner that anyone can now name and pilots a small army of bodyguards PR to ensure that you never say a word out of place or, God forbid, contact a member of the audience. Some of the new circuits have also been heavily criticized for not allowing excess and many fans feel now that the races have become the de facto high-speed, low-risk processions with the most technologically advanced cars coming out on top . It is right that Monaco was not very excellent for passing over many years, but there is a special part of the heritage of the sport, as well as tracks such as Spa in Belgium, Monza, Italy, and Hockenhein Nurburgring in Germany and Fantastic Britain Silverstone. For Formula 1 to prosper, you must have a global presence, but not at the expense of their heritage. The sport is in fact funded by sponsorship. Of course, the very Ecclestone on sales of TV rights, but the teams have the support of businesses and corporations are well aware of the brand. I do not want to rock in drivers, but not in sterile environments, they want excitement, glamor, passion and charisma. They are also increasingly aware of the criticisms of the environment for motorsports. F1 can respond to environmental concerns, focusing on saving energy supplied to the production of vehicles after the research and development in motorsport. But the sport has not really place a message through strong CSR to date. Bernie is seriously willing to see the end of the car that flies along the waterfront in Monaco, one of the fantastic iconic images of sport, or simply trying to extract millions of Monaco? Maybe we have underestimated its strategy for the selection of circuits, income and facilities they want. Public announcements of his position of confrontation that has worked well in this area. The question is – what you are going to face the fact that F1 requires careful management of the brand? International Motor Racing hi-tech modern circuits is relatively simple to organize. What is hard is to make a global audience that is passionate about the senses, and that sport has a future as glorious as its past. Related Link: Motorsport: A career irrelevant?

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