Carey: Formula 1 lost many opportunities

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Another argument between new director of FOM and Bernie Ecclestone. They are discussing about the potentials lost along the last years.

On one side, there is a list of those mistakes made and the way running Formula 1 was done wrongly. On the other side, the reply is about those actions taken to made this motor-sport a real business capable to generate billion of dollars. It is a comparison between Chase Carey and Bernie Ecclestone.

Let’s see this new chapter…

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Chase Carey

“Day after day, I just find frustration. Formula 1 is a motor-sport used to say too many “No”. I want more “Yes” to many more things.

What is the value of an idea if whatever you like to do there is a “No” waiting for you?

This is going to create frustration. There is a series of things they should be done and we noticed, Formula 1 was not a sport developed at its full potential in last 5 or 6 years. They did not use what there was available”

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Bernie Ecclestone

Former boss of Formula 1 gave a reply, with a strong defense of his management that pointed to squeeze this product. His idea was to generate the maximum amount of incomes for share holders. That is public, product improvement and basic values they were left behind:

“Perhaps, he is right. If an idea was not giving money or it was only wasting time: I said no. By the way, he was not too much specific, I would like to listen him saying: Bernie did this or that and he was a fool.

I managed  a business capable to create money, if I was not managing it in a proper way, Liberty Group was not going to buy it. I had to be sure we could get the maximum amount of profit so to make Formula 1 interesting to some buyers. That is what we achieved!

He talks always about social media, but I did not see anything beneficial for Formula 1. Whatever he did, it is not giving any advantage”

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Chase Carey

Carey is giving a new direction where he thinks Strategy Group will improve this sport. They want to see all teams during any meeting between FOM and FIA, something completely different from what Bernie was doing:

“Everybody can do a mistake, nobody is perfect. Bernie bought a nice business and he sold it gaining 8 billion dollars, we can just give him a recognition about his success.

Even so, today is necessary to launch commercially this motor-sport and he was not doing it. When you have someone blocked into the past, there is always a certain amount of complexity. I will do what I think is necessary.

Bernie a divide and conquer strategy,to keep anybody closer. We prefer to see a cooperation not a division. Teams, promoters, Formula 1 and FIA, they must have a common point of view if we want to move this sport to a new level. During the last three months, we understood there was something that hurts this sport: to be only focused on the short period of time! We want to look to the long term, where will be in about three years and not in three months. Bernie was only focused on the short term.

Look at the new engines we will introduce in 2021. Those engines used now, they are too complex, too expensive and they lost that peculiar sound. We will change what is necessary but we need time. There will not be a new engine in just two months because if we try to work in this way, we would create more damages that improvements. We want to be sure to get those instruments necessary to develop this business instead to do something to create stories for the media”

Last subject is about Alonso and his decision to compete at Indianapolis, leaving behind GP of Monaco and his team. Next 28th of May, the first Spanish will race in 500 miles of Indianapolis instead to race with McLaren.

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Bernie Ecclestone

“I understand his decision and the reason he want to accept this important challenge. When you do not have a competitive car, Monaco can become a boring race. A champion like Alonso will increase the popularity of F1 in the USA”

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Chase Carey

“I am turn between desire and fear. It is an unusual situation and regrettable for his team and supporters. If I was him, I would choose to go and race at Montecarlo. GP of Monaco without a great pilot like him, it is not a positive thing in my opinion”

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3 Comments

  1. Hello,

    Americans are very good to make money. I think they will improve the show while their bank account becomes huge

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