Formula One Group: Difference between revisions
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=== Summary === | === Summary === | ||
* The Formula One Group is a company that manages the commercial aspects of the Formula One World Championship, which is a premier international motorsport competition featuring single-seater racing cars. | |||
* The group is responsible for organizing and promoting the races, negotiating broadcasting rights, managing sponsorships, and overseeing various business aspects of the sport. | |||
* Formula One Group is headed by a CEO and plays a crucial role in shaping the global presence and commercial success of Formula One racing. | |||
=== Mission === | === Mission === | ||
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* Chase Carey | * Chase Carey | ||
=== | === Financials === | ||
[[File:Fwonk.PNG|center|thumb|900x900px|[[File:Fwona.PNG|center|thumb|900x900px]]]] | |||
=== Risks<ref>https://www.kunalsf1blog.com/liberty-media-risk-factors-f1-business/</ref> === | === Risks<ref>https://www.kunalsf1blog.com/liberty-media-risk-factors-f1-business/</ref> === | ||
Revision as of 08:56, 10 August 2023
| Industry | Motorsport |
| Founder | Bernie Ecclestone |
| Headquarter | 2 St. James's Market, London, U.K. |
| Area served | Globally |
| Brands | Formula 1Paddock Club |
| Key people | Stefano Domenicali (CEO & President) Chase Carey (Non-executive Chairman) |
| Traded as | FWONA |
| Website | formula1.com |
Summary
- The Formula One Group is a company that manages the commercial aspects of the Formula One World Championship, which is a premier international motorsport competition featuring single-seater racing cars.
- The group is responsible for organizing and promoting the races, negotiating broadcasting rights, managing sponsorships, and overseeing various business aspects of the sport.
- Formula One Group is headed by a CEO and plays a crucial role in shaping the global presence and commercial success of Formula One racing.
Mission
- Formula One Group aims to deliver innovative, sustainable, and immersive motorsports entertainment that inspires passion, excitement, and excellence.
- The company is committed to providing the best possible experience for its fans, stakeholders, and partners by creating a dynamic, safe, and inclusive environment.
- Formula One Group strives to drive sustainable growth and profitability through innovation, diversification, and collaboration.
Vision
- Formula One Group's vision is to become the global leader in motorsports entertainment.
- The company is dedicated to delivering high-quality entertainment experiences that inspire passion, excitement, and excellence.
- Formula One Group aims to set new standards for innovation, safety, and sustainability in the motorsports industry.
Main offerings
New projects
Team
- Stefano Domenicali
- Chase Carey
Financials
Risks[1]
- There could be a decline in the popularity of Formula 1, which may have a material adverse effect on Formula 1’s ability to exploit its commercial rights to the World Championship.
- Termination of the 100-Year Agreements could cause Formula 1 to discontinue its operations.
- Teams may, in certain circumstances, terminate their existing commitment to participate in the World Championship until (and including) 2025 or breach their obligations and withdraw.
- Formula 1 is exposed to credit-related losses in the event of non-performance by counterparties to Formula 1’s key commercial contracts.
- Formula 1 may face difficulties expanding into new markets, including as a result of being unable to attract race promoters for new Events.
- Accidents during Events may cause losses that are not covered by insurance, disrupt an Event and cause Formula 1 reputational damage.