Former Ferrari boss Stefano Domenicali, currently the chief executive officer of Formula 1, feels that the series has the right number of races in the 2023 championship.
The 2023 F1 campaign includes 23 races, one less as compared to the initial schedule, given the fact that Chinese Grand Prix could not take place this year, due to the Chinese authorities removing the COVID-19 restrictions far too late for the sport to be able to arrive at the Shanghai International Circuit. However, the sport is expected to return in China next season.
Based on the terms and conditions of the current Concorde Agreement with teams, Formula 1 is able to organize up to 25 events per season, with the former Ferrari boss pointing out that 24 events would be ideal at this moment:
“If you remember, just a couple of years ago, to think more than 15 or 17 grands prix was impossible,” – the Italian manager explained, in a recent interview – “We’re not doing events because we want to do by forcing the system to do it; it’s because there is, as always, what is the balance between the demand and the offer. Today we are 23; we are going to be 24,” he continued, when asked about the structure of the Formula 1 calendar.
“I think that’s the right balance today with the value we have created around Formula 1 in the world. And I think that will be the numbers we will keep to be sustainable in terms of attention, in terms of the possibility that everyone that wants to have [a race] will have [a race]. In certain areas like Europe, for example, we may have a possibility to think of a rotational structure that could enable a lot of promoters to be within the championship, so that’s really something that could happen.” – Stefano Domenicali added.
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The most important change for the 2023 Formula 1 campaign is the addition of a third Grand Prix in the United States, with the highly expected Las Vegas Grand Prix taking place later in the year, while another key point is the fact that Qatar has joined the calendar properly following its appearance on the calendar two years ago.
During the last few months, Stefano Domenicali identified the ‘Far East’ several times as a major area of potential increase when it comes to new races on the calendar, in addition to a Grand Prix in South Africa, which is a clear target for the next years. By adding new races on the calendar, the Formula One top management is able to generate revenue for the underlying business, yet such a direction has a downside, namely it reduces the exclusivity aspect, while also leading to an increase of the cost for teams:
“I’m 58 and doing all the races,” – the ex-Ferrari boss pointed out – “We do respect the balance of life, but we don’t have to also forget that we are blessed to be part of this system. We’re doing a job that if you don’t love it, no one is forcing you to do it. It just really is not compulsory like military service; it’s something that you do if you like it. At this moment, I think that all the people that are in our system should be blessed to think that they have the chance to be part of this world. I know that it’s the duty of an organisation to try to organise itself the best way,” he added.
“Rotational people, having more people that can do the same job, that’s part of the right way to tackle the growth of the sport that is giving benefit to everyone. The reason why we are growing is because also the teams are… they are taking the right advantage for the fact that today, we can collect more money to share and to make sure that the system is strong for the future.” – Stefano Domenicali concluded.
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