Formula 1 is shifting away from historic European circuits towards younger and often brasher markets
’s calendar for July has a familiar look, with Grands Prix in its old European haunts, on circuits with half a century of history—three-quarters, in the case of Silverstone in Northamptonshire. Yet the diary has some new entries, and some old ones may be scratched out, or at least secure fewer dates in future.
For decades, Formula 1 was under the tight control of Bernie Ecclestone, a British businessman. His influence grew throughout the 1970s until he assumed control of broadcast negotiations in 1981 and, with that, what amounted to ownership of the sport. He drove up the fees that circuits paid for the privilege of hosting Grands Prix and sought more forchannels, such as Sky, which had smaller audiences than terrestrial rivals but more cash to offer.
There were celebrities everywhere, from Michael Jordan and Michelle Obama to Paris Hilton and Ashton Kutcher. There were parties, after parties and after-after parties. Admittedly, drivers were lukewarm about the quality of the track and—more seriously—reported concerns about unprotected concrete barriers. But the event was a success. The race roped in 2.6m American viewers, the most for a Grand Prix in 20 years. And almost a quarter of a million people bought tickets over the three-day weekend.
With three American races already in the diary for 2023, further growth in America will require a different tactic. The obvious one is adding a second American team, which looks likely. Michael Andretti, son of Mario, winner of 12 Grands Prix in the 1970s and 1980s and champion in 1978, wants two spots on the grid from 2024. Most of the ten existing teams are opposed, as their revenue would be diluted. New entrants must anyway compensate incumbents to the tune of $200m in total.
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