Haas boss Günther Steiner sees the Formula 1 teams in a phase in which they can achieve immense profits with new opportunities.
Formula 1 is a money-hungry sport. To drive a pair of cars, every team has to make a lot of money. This modus operandi has previously resulted in several teams going out of business halfway.
But with the new regulations, many teams would now have a chance to assert themselves. The budget cap introduced in 2022 will limit each team’s spending and keep the big guys from dominating the losing teams.
This creates chances of winning for the teams in the background and can level the field. It can on the edge allow the teams to make better profits.
Budget caps aside, Liberty Media’s investment in bringing F1 to social media is also paying off. This even led to Mercedes Toto Wolff revealing that every F1 team is close to winning, and Günther Steiner agrees.
“I would agree with Toto that if you do a good job here, the goal of our business should be to make a profit, so you do business. There has never been a better time to do this than now, nor is there greater value than now for a team. I see that as positive, said Steiner. “
Haas boss is delighted with Liberty Media’s efforts
Steiner also praised Liberty Media’s efforts to be more audience-focused. With more technology and streaming services that cover and enhance entertainment. While it also adapts to the needs of the younger audience, there is certainly a boom.
F1 was in trouble 5 years ago. The three words used to describe the sport were “expensive”, “technological” and (oh oh) “boring”. The global TV audience of Formula 1 shrank by almost half between 2008 and 2016.
Then Liberty Media took over. The following has changed.
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Jacob Feldman (@ JacobFeldman4) October 26, 2021
“I would say that Liberty Media has really pushed the business aspect forward since the takeover,” added Steiner. “They know a profitable business is here to stay.”
“Because a business loses money after a while, I always say you run out of money or you run out of passion, one of the two, so you quit.”
“Then you get in [the other] Teams aren’t worth a lot of money, but I think it’s a very good time for all teams right now. “
The post “There’s never been a better time than now” – Haas boss believes F1 teams are heading for an economic boom first appeared on monter-une-startup.
