Sponsorship and marketing guru Zak Brown believes that incoming Formula 1 owner Liberty Media’s desire to make the sport better, rather than simply milk it for profit, can only be good news for fans writes Charles Bradley of Motorsport.com
In the wake of Liberty Media’s announcement that it will purchase Formula 1 by the first quarter of 2017, in a deal worth $8billion in total, Brown said that the “strategic" nature of the new owners – as opposed to CVC’s purely money-driven approach – should spell a brighter future.
“Liberty Media is one of the best strategic buyers you could have," said Brown, who is chief executive of CSM Sports & Entertainment and founder of Just Marketing International.
“This means they take a very long-range view of the sport, as opposed to a private equity group like CVC, who did what they were supposed to do, which was hold the property for seven to 10 years and provide a fantastic return for themselves and their shareholders.
“However, a strategic buyer might be a little more focused on the strategic growth and, ultimately, to have a massive concentration on the fans. And as long as you have lots of happy fans, young fans, more fans – everything else slots into place. Teams are happy, so are sponsors and TV.
“So I think we’re going to see big focus on the fanbase, which will then make the balance of the sport very healthy. The healthier the sport, the healthier the teams.
“If the sport is better, it’s easier to find sponsors, and then the more sponsors are willing to pay. It’s going to be good for everybody." Charles Bradley/Motorsport.com