Connect with us

2019 F1

Liberty preparing F1 for Brexit

Published

on

  • 1
    Share

Liberty Media is working on “contingency plans” in the event that a so-called ‘no deal Brexit’ proceeds at the end of the month.

Mercedes’ boss Toto Wolff has already warned that Britain’s impending exit from the European Union would be the “mother of all messes” for the sport’s multiple UK-based teams.

Chase Carey, the F1 chief executive, says Liberty is aware of the potential problems.

“We do not know what will happen any more than anyone else does,” he said.

“We are making contingency plans for trying to make sure we are prepared to deal with the issues that could possibly arise that would make getting people and things in and out of the UK more difficult,” Carey added at the Geneva motor show.

For instance, Liberty Media currently helps the teams to transport their equipment in and out of Britain.

“We obviously can bring them in and out of somewhere else,” he said.

More broadly, Carey defended Liberty’s running of F1, even amid reports that the overall income of the sport is dropping year on year.

Christian Sylt, an F1 business journalist for Forbes, said the sport could lose a further $130 million if contracts with five races are not renewed.

But Carey says Liberty is “laying the foundation for long-term growth”.

“We had the feeling that it was a sport that historically had a short-term goal. We wanted to build a base on which we could grow,” he added.

Dismissing the news about F1’s declining revenue, Carey said Liberty had instead “created a new momentum”.

“F1 is the fastest growing major sport on social media for the past two years. We are very excited about what’s ahead in 2019 and 2020,” he said.

Loading...

Comments

Latest Results




Latest F1 News

2019 F14 days ago

Bratches admits China could get second F1 race

1ShareF1’s owner Liberty Media has admitted it could add a second race in China to the calendar. In Shanghai last...

2019 F14 days ago

Mercedes beating Ferrari nothing new – Briatore

1ShareFlavio Briatore is not surprised that Ferrari is struggling to beat Mercedes in 2019. The Maranello team began the year...

2019 F14 days ago

Ferrari working on rear wing fix – Binotto

1ShareFerrari is already working to fix the issues that have dropped the Italian team behind Mercedes in 2019. After early...

2019 F14 days ago

Carey inspects 2020 Hanoi GP site

1ShareF1 chief executive Chase Carey travelled straight from China to Vietnam to check out the scene of the Hanoi street...

2019 F14 days ago

Raikkonen leading the B league – Zehnder

1ShareAlfa Romeo team manager Beat Zehnder says it is “a pleasure” to be working once again with Kimi Raikkonen. The...

2019 F14 days ago

Red Bull to get new Honda engine in Baku

1ShareJust a few races into the long 2019 season, Honda is already preparing to introduce an upgrade for its engine....

2019 F14 days ago

Nothing fundamentally wrong with car – Vettel

1ShareJust three races into yet another promising season for Ferrari, the Italian press has declared that the great Maranello team...

2019 F15 days ago

No more race victory target in 2019 – Horner

1ShareAfter three races in 2019, Red Bull no longer has a target for the number of race wins. Prior to...

2019 F15 days ago

Budget caps will not help F1 – Villeneuve

1ShareJacques Villeneuve says a budget cap is the wrong direction for F1. With support from the FIA and many teams,...

2019 F15 days ago

Williams no longer a racing team – Villeneuve

1ShareWilliams’ problems can be traced back to the decision to float on the stock exchange. That is the view of...




Most Popular

ThisisF1.com is not affiliated with Formula 1, Formula One Management, Formula One Administration, Formula One Licensing BV, Formula One World Championship Ltd or any other organization or entity associated with the official Formula One governing organizations or their shareholders. Copyrighted material used under Fair Use/Fair Comment.

References
We could use the following leading F1 news sources for stories: SkyF1, BBC F1, Autosport, ESPN F1, FIA Media Center, MotorSport, JamesAllen and others leading authors blog.

All Rights Reserved © 2017 Prime Sport Media