Mar.13 (GMM) Liberty Media bosses admit they thought it would be easier to attract sponsors to F1.
Chase Carey, the new CEO, and Liberty chief Greg Maffei took over from Bernie Ecclestone believing they would quickly be able to monetise the new $8 billion acquisition.
Actually, revenues are declining.
“The perception was just there are sponsors waiting — they were lined up out there and as soon as we had somebody to go call on them, they were just going to sign up,” Carey admitted to the Financial Times.
“The world’s not that simple.”
Maffei, quoted by Forbes’ F1 business journalist Christian Sylt, agrees: “The one where we have lagged and we really want to see growth is sponsorship and that has probably proven to be harder and gives less uptick than we initially thought but I still remain optimistic.”
Grand Prix Tours is once again heading to Silverstone Circuit and the British Grand Prix. Guest of Grand Prix Tours are treated to an incredible series of events including a visit to the British Motor Museum and to a private tour of not one but two Formula 1 team factories. Follow the link above to learn more about our trip to the British Grand Prix.
Grand Prix Tours has once again orchestrated the perfect race weekend for the 2020 Belgian Grand Prix. Located just outside of the Belgian city of Spa is the Circuit de Spa-Francorchamps home to the Belgian Grand Prix. Known as one of the most popular races on the Formula 1 calendar because of its scenic setting, racing heritage and famously challenging turns this race is a favorite of drivers and fans alike. Follow the link above to learn more about our trip to the Belgian Grand Prix.
Join Grand Prix Tours as we head to beautiful northern Italy and the Autodromo Nazionale Monza for the 2020 Italian Grand Prix. With a racing lineage that dates back more than 95 years, unpredictable weather patterns and the ravenous Ferrari fans makes this race and post-race celebration a spectacle like no other in professional motorsports. Follow the link above to learn more about our trip to the Italian Grand Prix.
oin Grand Prix Tours as we head to Singapore and the Marina Bay Street Circuit for the only true night race on the Formula 1 calendar. One of only 4 street circuits on the F1 calendar the beauty of the modern Formula 1 cars are on full display under the bright lights of the Marina Bay street circuit. Follow the link above to learn more about our trip to the Singapore Grand Prix.