If you look at the huge American fans at COTA, you would confuse the grandstands with those at Silverstone. The rush was huge and it was only a Saturday. This reflects the growing popularity of the sport. While fans are a wonderful consequence of popularity, the financial aspects of the sport and its teams are also changing. Mercedes F1 boss Toto Wolff spoke about money matters and shared his opinion on growth in the states.
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It’s a known fact that F1, a European-centered sport for eons, has grown in prominence in the US after Liberty Media came into play. Head to Survive, the Miami Circuit – America is a waiting gold mine. In view of Andretti’s obvious interest in the takeover of Sauber, Wolff does not see that Mercedes will soon be mocked.
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During the Andretti-Sauber talks, Wolff made it clear why selling a team was not his way. “Anyone who buys a Formula 1 team today knows exactly what they have to spend in order to be competitive, because we couldn’t spend more, which is why it has become a very good business opportunity for me. I wouldn’t sell a team. “
Instead, the captain is just trying to expand his ship. “On the contrary, with Ineos I bought an additional 3 percent and I’m very happy about it.”
Toto Wolff streamlines his comments
Formula 1 is in its heyday in public. While there are lots of buyers queuing, few teams would want that. Rather, it’s the right way to expand and get big sponsors.
Formula 1 F1 – United States Grand Prix – Circuit of the Americas, Austin, Texas, USA – October 23, 2021 Mercedes’ Lewis Hamilton in action during the qualifying pool via REUTERS / Darron Cummings
Wolff credits Stefano Domenicali and Liberty with a good job. Because of her work to increase the American presence, Wolff is looking for America. “I think we are at a very good time for Formula 1 because the audience is growing, the sport has become more popular, and we are slowly but surely tapping into America.”
While Mercedes seems far from the financial dumps, Wolff mentioned how tight the Brackley team’s top line is. In addition, the 2021 cost cap gave them an end result, an ideal situation for any sport, Wolff said. “It shouldn’t be just a marketing exercise and a cost center. It should be a profit center, similar to what the US teams are, and we are clearly there. “
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Regarding the Sauber situation, he added: “I very much hope that all teams will become profitable very soon and I think it is imminent. You know your cost. You can’t spend more than $ 145 million this year and go under. “
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As the financial aspects of sport change, the utopia of a level playing field still seems a long way off. Regardless of whether teams buy or expand, the value of the sport has increased. As Zak Brown said, “Formula 1 teams are undervalued, and I think that’s why people get in.”
Check out this story: Toto Wolff swears, Valtteri Bottas Bares: The funniest moments from the journey to survival
The post Toto Wolff advises Sauber against Andretti F1 sale: “I bought an additional 3% from Mercedes” first appeared on monter-une-startup.
