Recently-appointed Formula 1 chairman and CEO Chase Carey says that the series’ failure to grow to its full potential in recent years led to the decision to change its management structure, as announced on Monday.
Carey’s arrival comes following the completion of Liberty Media’s acquisition of F1 in a deal worth more than $8 billion.
Liberty announced on Monday that Carey would be joined by ex-ESPN marketing chief Sean Bratches and former Ferrari and Benetton technical boss Ross Brawn, creating a triumvirate to run F1.
“We looked at the business, and felt over the past four to five years the business and sport had not grown to its full potential,” Carey told Sky Sports on Tuesday.
“We needed to put a new organization in place to be able to grow the sport in today’s world in the way it needs to grow, and in some ways work with the partners we have in the business to make sure we can make the sport everything it can and should be for its fans.
“Both Sean and Ross will have critically important roles in developing the sport overall. Ross brings decades-long experience of incredible success in the sport.
“From Ross’s perspective, what we want to do is make sure we make the sport on the track everything it can and should be; make it as exciting as possible for the fans, as energizing as it can be for its fans.
“It’s a great sport today. It’s got drivers that are iconic stars. It has cars that combine power and technology in a way that truly amazes people and a brand that has fans around the world.”
Last week, Red Bull Racing revealed their new car, the RB19, and a new relationship with US-based Ford Motors in a press event in New York City complete with drivers Max Verstappen, Sergio Perez and Team Principle Christian Horner. They are the only Formula 1 team to launch in the United States, but even that small move of the needle reflects a major shift in the attitude of both F1’s management and their teams – and the extent to which the American audience has fully embraced the sport.
“It’s something fantastic and unique, for the sport to be able to break it into the U.S,” Perez told NBC Sports. “The market is huge and it’s a huge opportunity for everyone involved, for the drivers, for the team. It’s always a huge market.”
In 2023, Formula 1 will race three times in the United States and five times in North America. The Circuit of the Americas will host their 11th consecutive race in October before heading south to Mexico City. Miami returns for a second time in May on a temporary street course around the Hard Rock cafe and the third addition is in downtown Las Vegas in November.
With the Canadian Grand Prix on the schedule for June and the Brazilian Grand Prix in November, American fans are now in the ballpark of Europeans, who have eight events on the continent and one in England.
In 2022, Verstappen won every race in North America. He was kept from sweeping the hemisphere only by George Russell, who won in Brazil. That fact is less remarkable when one considers that Verstappen won 15 times in the season – nearly two-thirds of the races on the schedule.
“Sometimes it can be hard to replicate the season, but I think it’s the same as with the car, right? You always try to improve it,” Verstappen told NBC Sports. “And I always look at the little details that even when you have had a good race, you could have done better. And then of course you also learn from the bad races. So we always try to look for these little improvements and general experience you gain year after year.
“You try to do better, but of course it also depends a lot on the package you have.”
Now Verstappen’s thoughts will inevitably turn to establishing a dynasty – and America will again play a pivotal role.
“I just enjoy what I’m doing,” Verstappen said. “After the years in Formula One, when you have to be on top of your game and you gain a lot on your experience – in that sense nothing really can get to you anymore. Every year you just try to do the best you can. But a lot depends on the material around you. It’s always a bit of a guess. Start the season as fit as you can be and be well prepared. But if you don’t have the car, you’re not going to win the championship.”
Perez added two wins to Red Bull’s total, at Monaco and the Marina Bay Street course. With two of the US 2023 races on street courses, Perez hopes to close the gap on Verstappen and potentially be his principle rival for the championship.
“The strategy is clear; it is to maximize the potential of the car – and we believe we have a good car, but how good?,” Perez said “We don’t know what the competition is doing. We just give our best in building this car and we hope that it’s good enough to get us to win races.
“I think we have to work together as a team. At the same time. We both want to win the championship. It’s just having good compromise. The competition will be really strong out there, so we really need everything we possibly can get from each other.”
Formula One returns to the United States for Round 6 and the Miami Grand Prix on May 7.