Formula 1 is continuing its attempt to capitalize on the media boom the sport has experienced in recent years, seeking new opportunities to expand the category to new horizons on other continents.
With three events in the United States, along with three other stops in the American continent, F1 believes these are sufficient for that market. In contrast, there is a growing interest in pushing the sport towards other regions, especially in the Asian continent, where a new event could be added.
Speaking at an F1 event in Monaco on Thursday evening, also managed by Autosport Business, Greg Maffei said that the success of the return of the Chinese Grand Prix to the calendar after a four-season absence has shown what is possible and the level of interest in Formula 1 in that continent.
“We are fortunate to have been able to have a GP in China this year after four seasons. It was a great success. Interest in China has exploded partly because we now have a Chinese driver,” Greg Maffei said, emphasizing the importance of Guanyu Zhou, who during the Grand Prix weekend was given a special spot, even stopping on the starting line after the race to greet the public, visibly moved.
It is no secret that, behind the scenes, several countries have come forward to F1 to organize a Grand Prix in the coming years, in addition to those already present in the Asian continent. According to Maffei, three states have shown great interest, namely Thailand, South Korea, and Indonesia.
“Cultural identity is fundamental when there are drivers and teams from a country. It was fantastic to see the growth in China. But there is a lot of interest throughout Asia, as we have interest from many cities. But in Asia, as you rightly pointed out, there are Thailand, Seoul, and we have also found interest from Indonesia. There are many places that desire a Formula 1 race.”
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“We have examined the data on where our fans are, where they could be, who could organize a great race, and who, frankly, can afford to organize a race, making various intersections among these three aspects. I think you could easily see a second race in Southeast Asia [alongside China].”
Formula 1 has already raced in South Korea at the Yeongam circuit, although the event was canceled after only four editions at the end of the 2013 season. At the time, it was an ambitious project, as a city was supposed to be built around the circuit, but the work always proceeded slowly, which is why interest faded after a while due to the unsustainable costs of keeping a Grand Prix alive far from other major cities. The idea would therefore be to organize a race in a city.
The situation is different for Thailand, which in recent months has been accelerating its efforts: during an official visit to Italy, Thai Prime Minister Thavisin attended last week’s Emilia-Romagna Grand Prix to discuss with Stefano Domenicali the opportunity of bringing F1 to his country.
Indeed, the Grand Prix project would be promoted and supported by the government, as it is known that Thavisin has explored possible support from Red Bull for organizing the event, given the brand’s well-known ties to the Asian country. The idea would be to organize a race on a street circuit in Bangkok, the country’s capital, with the hope that it could be included in the calendar in 2027 or 2028.
Also present at the event held in Monaco were the main representatives who contributed to organizing the Las Vegas Grand Prix. Greg Maffei explained how F1 has been able to better understand the needs of fans thanks to the decision to become the promoter of the event, instead of relying on other organizers.
“We have changed the sport in many ways. We used to just hand over the product to the local organizer and they sold it. But increasingly, through things like F1TV and events we have organized ourselves like the one in Las Vegas, we better understand what the fans need. We are a consumer-focused company and we need to understand their needs,” explained Greg Maffei. In fact, this year, there should also be cheaper tickets for the U.S. event, after significant controversies over prices last season.
“This allows us to learn better and better meet their needs over time, even in Las Vegas. So I am excited about what we will be able to do together. I believe it will be a great show. And I hope it remains as exciting a race as it was the first year.” – the the president and chief executive officer of Liberty Media concluded.
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