News Details
F1 ‘playing promoters off each other’ to boost race fees - Maffei
© XPB Phillip van Osten
10/05/2024 at 08:4110/05/2024 at 09:50 Liberty Media chief executive Greg Maffei has confessed that Formula 1 has been able to take advantage of the strong global demand for race franchises “to play promoters off each other” and lift race fees. Formula 1 currently operates at near capacity with a 24-race calendar, just one shy of the maximum allowed by the sport’s Concorde Agreements. Grand Prix racing’s global growth has ensured a steady demand for new additions to F1’s calendar. But this has also created a sense of “scarcity” among potential promoters which Formula One Management (FOM) has cleverly leveraged to maximize the value of...
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