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Leagues and Governing Bodies

Formula 1 Chair Chase Carey Tells Teams 'No Free Lunches' Over $43M Prize Money Drop

Formula 1 Chair Chase Carey said that teams must understand that there are "no free lunches" when it comes to making the sport bigger, "amid unease" about a $43M fall in their prize money pot, according to Jonathan Noble of MOTORSPORT. A "number of outfits have expressed concern about an unprecedented drop in the commercial rights income" for the most recent quarter. Carey said, "I think the sport has been underserved by a continual short-term focus. I think we've got some fresh momentum back into it. A lot of things were not going in the right direction in recent years, but this year attendance is up, viewership is up and I think we've got a much more positive spirit behind it. The sport needed fresh energy and investment. To grow things, well, to use an American phrase, there are no free lunches. ... When you're building a digital organization, usually you have costs before you get returns. ... From the teams' perspective, sure, everybody would like to have free lunches and get the growth without the investment. The world doesn't work that way" (MOTORSPORT, 11/30).

UNDERMINING ABILITIES: The PA reported Mercedes F1 Motorsport Dir Toto Wolff believes a single-gender motor racing championship would "undermine" women and "harm their prospects of making it" to F1. Motor racing is "the world's biggest sport which does not offer an alternative for women to compete at standalone events." It has been "more than 40 years" since a woman entered an F1 race. Wolff said, "An all-women championship is giving up on the mission of eventually making girls compete on a high level and against the boys in Formula 1. It is undermining what girls are able to achieve. Motor racing is a little bit like horse riding where we fight with the same tools. I believe that motor racing is a sport where women can take on men" (PA, 11/29).

SBJ Morning Buzzcast: April 25, 2024

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On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with TNT’s Stan Van Gundy as he breaks down the NBA Playoffs from the booth. Later in the show, we hear from ESPN’s VP of Programming and Acquisitions Tim Reed as the NFL Draft gets set to kick off on Thursday night in Motown. SBJ’s Tom Friend also joins the show to share his insights into NBA viewership trends.

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