From pre-Covid problems to current growth
In the post-Covid years, Formula 1 has seen its following grow enormously around the world, with aunprecedented expansion – at a global level – of attention to the category and interest in investing in it. New circuits and new sponsors have arrived, which for the moment seem to resist even the prospect – not too intriguing – of yet another season dominated by a single driver and a single team.
The world of sport, just like that of finance, is very fickle and it is not certain that this 'Eldorado' of the Circus will last forever. But how much is a Formula 1 team worth at the moment? The CEO of McLaren tried to provide an answer, Zak Brownwho spoke at an event organized by during the Jeddah weekend Bloomberg and took stock of the teams' current situation, giving credit to Liberty Media for the work done in sports management.
Cover me with money
According to the top manager of the Woking team all the F1 teams are at the moment”much further north” of a billion pounds in value. Converting into euros, this is a value of more than one billion and 170 million. A figure that is still 'low' when compared to certain franchises in the world of American sports, for example the NBA or the NFL, but still very significant if you consider that even before Covid there were several teams whose financial sustainability was entirely It's anything but certain.
“Half of the grid is profitable – Brown said – and that wasn't the case five years ago. What Liberty wants to do is protect the value of the ten existing teams. We're in a position where before Liberty there were teams that failed or fell off the grid. Now with Liberty there are teams lining up that want to get into this sport. So I think Liberty is just evaluating how, when and if they want certain teams to get in“. The reference is obviously to Andretti Globalwhich for the moment has seen all its attempts to enter F1 as the 11th team rejected.
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