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F1's managing director, Sean Bratches has likened the business side of the sport to that of a start up company. Bratches is part of the three man management team under F1's current ownership along with Chase Carey and Ross Brawn, and has bemoaned the lack of any business side of the sport when Liberty took over the sport from Bernie Ecclestone in late 2016.
Bratches has refused to publicize Liberty's plans for the sport long term, and has explained that one of the reasons it has taken so long to prepare plans for the future is the lack of structure used by former F1 supremo Bernie Ecclestone, and said he didn't expect it initially to be a problem they would have to address.
"The biggest surprise was there was no sponsorship team, there was no media rights team, there was no digital team, there was no research team and no research," he said. "So having an entity that is 67 years old, with a global brand, with over half a billion fans, with a rather enviable balance sheet, to have no commercial team was quite astonishing.
"I think that when you take a step back and look at the lay of the land in terms of how successful Formula 1's been without any focus on the commercial side – with this global brand, half a billion fans and doing well financially – think about the opportunity where you can bring in 21st century business practices and leadership.
Grand Prix of Belgium
G. Zhou
Replies (6)
Login to replyf1fan0101
Posts: 1,804
Its just being run differently
ajpennypacker
Posts: 2,475
Liberty will do amazing things with the brand. I look forward to the new venues, changes to the format, and increased access to the show. So glad Bernie is gone.
calle.itw
Posts: 8,527
Same, I honestly think Liberty has done a decent job so far, and Im moderately optimistic about the future. As long as they dont "business" things up too much, and dont standardize engines, Im all for many of their current ambitions.
calle.itw
Posts: 8,527
"Think about the opportunity where you can bring in 21st century business practices and leadership." Im very torn on that statement, since it very much resemble corporate people talking about games they clearly dont understand. Like EA Call of Dutyfying every single one of their games in pursuit of CoD fans who already have CoD, only to wonder why it doesnt sell nearly half the sums CoD do. But all in all, more structure seem like a sound idea.
kngrthr
Posts: 203
men in suits like to surround themselves with other men in suits
calle.itw
Posts: 8,527
Mostly true, but that doesnt explain why Liberty decided to bring Brawn on board.