Number of fans in constant increase (and rejuvenation), development of F1 in the United States with a Grand Prix in Las Vegas, full stands, teams valued at hundreds of millions of dollars and profitable with capped budgets… The financial weather of the F1 displays a great sun.
Toto Wolff knows the importance of the American market for a brand such as Mercedes: this is how he fully understands Liberty Media’s desire to organize a third Grand Prix in the USA, in Las Vegas (after Miami and Austin). And he’s already looking forward to the November show…
“Formula 1 is already developing very strongly in the United States with an event in Austin which sold out with 440,000 spectators. Miami was also great last year and now we are going to Las Vegas, I’m sure it will be an incredible wave. »
“We haven’t raced in Las Vegas in the recent past and the environment in the city is crazy. There’s nothing better than a run on the Strip at night! Tickets sold out within 25 minutes online and I think that shows how strong the demand is for this race. »
The attractiveness of F1 is representative of the sport’s recent ‘boom’ in terms of popularity: Toto Wolff praises in particular the impact of the Netflix series Drive to Survive, which has made it possible to attract many women, young people, new fans…
“Formula 1 is growing more and more all over the world. I think it is because we offer good content. Good racing, interesting personalities, and some controversy on and off the track. Drive to Survive certainly played a role in this overall success. »
Toto Wolff, however, warns the FOM and Liberty Media…
“What we have to do is continue to entertain, but always within the framework of sport. We must never lose the DNA of sport. Entertainment always follows sport, not the other way around. »
The extension of the partnership with Petronas hailed
The interest of F1 is not only commercial, it is also technological and economical for fuel suppliers, with the prospect of developing a 100% renewable fuel for the next generation of power units, in 2026. .
This is how Petronas extended its partnership with Mercedes, beyond the 2026 season: we see the long term in Kuala Lumpur! This is a sign of the deep commitment of the Malaysian oil company alongside the German team…
An extension that Toto Wolff of course welcomed …
“We are doing something a bit unusual: we are announcing a partnership that will start in four years. This sends an important message: our team and PETRONAS are no longer just partners, we are a family, and we will be one team for many years to come. »
“We are excited to race into the future alongside PETRONAS, with the ambition to once again set the benchmarks, in our performance on the track and paving the way for the transition of a global sports team towards a net zero carbon future. »
Richard Sanders, Commercial Director of the Mercedes-AMG PETRONAS F1 Team, also welcomed the oil company’s contract extension (and the arrival of other partners) in these terms.
“The growth of F1 globally is reflected in the ever-increasing interest in joining our ecosystem of partners. We are proud to add to the launch day excitement by welcoming G42 and Qualcomm. They join several other fantastic brands we have partnered with ahead of the 2023 season and we look forward to working closely with them, and our long-standing partners, throughout the year. »
