Tag Archives: sports

Eddie Jordan: A lovable rogue and a true racer

Former F1 team boss Eddie Jordan has lost his brave battle with cancer at the age of 76.

A truly remarkable and unique character, he had a huge impact on the sport, having first arrived on the F1 scene in 1991.

He gave Michael Schumacher his debut that year, and Jordan GP finished fifth in the World Championship at its first attempt with the iconic green 191. And yet the team only just made it through the following couple of seasons, so precarious was its financial position.

There were to be many highs and lows, and Jordan would eventually score four GP victories with Damon Hill, Heinz-Harald Frentzen, and Giancarlo Fisichella.

As his financial options ran out Jordan sold the business 20 years ago. He subsequently focussed most of his energies on his media activities before making a surprise return to the limelight last year as manager of Adrian Newey.

The name may have changed a few times, but the current Aston Martin F1 team will be his legacy – also because of his role in getting Newey on board his former team.

It’s good to know that on the day that Newey was announced at Aston EJ visited the new base next to the original Jordan GP site at Silverstone, and was able to see how the team now looks – and he also had an emotional reunion with guys he employed, and who are still working there.

He famously always had an eye for the next deal, but his heart was in the right place, and he was a racer to the core. It’s a pity that Drive to Survive came too late for the world to really get to know him…

He always called me Cooperman, and any encounter was usually a one-sided onslaught of banter and insults designed to entertain everyone within earshot – but you always knew that he had a heart of gold, and to be on the receiving end was actually a compliment.

Aston’s current team boss Andy Cowell said in a statement: “Eddie Jordan was one of the all-time motorsport greats. He was a one-off, a wonderful human being, and a charismatic leader who founded this team and took it to F1 in 1991.

“His vision laid the foundations for us and he leaves a lasting legacy for the entire motorsport community. Today we pay tribute to a legend of the sport and our thoughts are with his family, friends, and colleagues.”

Meanwhile Aston owner Lawrence Stroll added: “Eddie Jordan was a true racer, a great leader, and one of the biggest characters in our sport. He was a friend who I have known for more than thirty years and I will miss him greatly.”

Leave a comment

Filed under Uncategorized

Lower Las Vegas GP numbers impact F1’s 2024 overall income

The Las Vegas GP didn’t generate as much cash for F1 in 2024 as in its inaugural year

The Formula 1 organisation continued to increase both revenue and operating income during the 2024 season – but Liberty Media admits that a poorer performance by the Las Vegas GP in its second season had an impact on the overall figures.

The headline numbers were up in part because there were 24 races in 2024, as opposed to 22 the previous year, with China returning and Imola back after the 2023 flood cancellation.

Revenue by was up 6% from $3,222 million to $3,411 million, while operating income rose from $392 million to $492 million, a gain of 26%.

While the numbers continued the upward trend Liberty concedes that the Las Vegas GP, which feeds directly into revenue as the only race promoted in-house, was not as successful as in its inaugural year.

Liberty notes that “sponsorship revenue grew due to recognition of revenue from new sponsors, contractual increases from existing sponsors and additional sponsorship inventory with two additional races held.

“Media rights revenue increased due to contractual increases in fees and continued growth in F1 TV subscription revenue.

“Race promotion revenue grew primarily due to fees from the two additional races held compared to the prior year, following the return of China and Imola to the calendar, as well as contractual increases in fees, partially offset by lower ticketing revenue generated from the Las Vegas Grand Prix.”

It added that “growth in hospitality income at most events and higher freight and licensing revenue was offset by lower hospitality revenue generated from the Las Vegas Grand Prix.”

However F1 also gained from the “lower event promotion, hospitality and experiences costs incurred in promoting and delivering the Las Vegas Grand Prix compared to the prior year.”

The 10 F1 teams shared payments between them of $1,266 million, up 4% from $125 million the previous year.

Despite the Las Vegas setback F1 CEO Stefano Domenicali remains bullish after the overall numbers continued to rise.

“Formula 1 capped off a record 2024 in race count, revenue and Adjusted OIBDA,” he said. “We are equally optimistic about 2025 as we mark F1’s 75th anniversary which will provide incremental momentum for our brand, and we celebrated this milestone by welcoming the entire F1 community to a first of its kind season launch event at The O2 last week.

“Our sponsorship roster is the strongest in the sport’s history and the commercial pipeline remains robust. This commercial success is paired with on-track excitement, as we expect more intense competition after last season’s highly competitive championship and we welcome several rookie drivers to the grid.”

Leave a comment

Filed under Uncategorized

Carey returns to F1 paddock in new Liberty Media role

Chase Carey has returned to the F1 paddock

Former F1 boss Chase Carey is back in the paddock in Abu Dhabi this weekend having been appointed a director of Liberty Media.

Carey was chairman of F1 from 2016 to 2022, and served as CEO from 2017 to 2021, before Stefano Domenicali took the reins.

He was responsible for pushing the cost cap through and getting the last Concorde Agreement across the line.

While he has visited US races since his departure he now has a formal role within the company that owns F1, serving on the executive board

His return comes ahead of the departure of Liberty Media CEO Greg Maffei in January, and amid recent speculation about Domenicali’s longer term future in F1. However sources indicate that he won’t have a hands-on role on matters such as the Concorde, and will be supporting Domenicali.

“Chase has been an excellent partner to Liberty for many years, from our investment in DIRECTV in 2008 to Liberty’s purchase of Formula 1 in 2017 where his role as CEO was key to securing the acquisition,” said Malone.

“He was instrumental in building a successful foundation at F1 from which the business has grown materially.

“Chase’s knowledge and expertise across media, entertainment, sports, business and more will be valuable to the board as our companies execute on their next chapters of growth and value creation.”

Carey added: “Liberty is at an exciting point in its storied evolution, with a more focused asset base centred around high-quality, premium sporting assets that I know well. I look forward to contributing to Liberty as a director in partnership with John, Liberty management and the portfolio company leadership.”

Leave a comment

Filed under Uncategorized

F1 confirms Montreal will move to May date from 2026

The Canadian GP is moving to May from 2026

F1 has now formally confirmed that the Canadian GP will move from its traditional June date to the third or fourth weekend in May from 2026.

As previously reported here switching the Monaco GP to the first full weekend in June has allowed F1 to slot Montreal in after Miami as part of a drive to improve the sport’s sustainability credentials.

F1 says that the “move will allow the European leg of the season to be consolidated into one consecutive period over the European summer months and is planned to remove an additional transatlantic crossing by the F1 community each year, with significant associated carbon reductions.”

Both changes required considerable concessions by the promoters and other stakeholders, in Canada’s case the Octane Racing Group and the Quebec and Montreal authorities.

The new date will mean a tighter schedule in terms of preparing the venue, with work compromised by the hard Montreal winters.

“I am incredibly grateful to the promoter and all of the government stakeholder partners involved in the Canadian GP, from the local, to the provincial and national government,” said F1 CEO Stefano Domenicali.

“We applaud the tremendous effort from all involved to accelerate the temporary build of the event, to be ready to host the F1 community earlier than in the past.

“The change will make the future flow of our calendar not only more sustainable, but logistically more sensible for our teams and personnel. Our Net Zero by 2030 commitment continues to be a priority for us as a sport and it is thanks to changes like this that we are on track to hitting our goal.”

F1 says that the “move will allow the European leg of the season to be consolidated into one consecutive period over the European summer months and is planned to remove an additional transatlantic crossing by the  F1 community each year, with significant associated carbon reductions.”

Octane Racing Group CEO Jean-Philippe Paradis said: “This change in the schedule is a major step in our commitment, as well as F1’s, toward a more sustainable future. It demonstrates our desire to combine sporting performance and event organisation with environmental responsibility.

“We are determined to offer our fans, our communities, and our loyal audience a unique and enriched experience, in addition to extending the summer season for Montreal.

“The date change thus fully integrates into the dynamic strategic vision put in place by our team, with the collaboration of our stakeholders, which is fully focused on delivering an amazing Canadian GP experience in a more sustainable and inclusive environment.”

Leave a comment

Filed under Uncategorized

Domenicali: F1 set to announce plans for rotating 2026 races “very soon”

Zandvoort and Spa have long been likely candidates to rotate a race date

Formula 1 CEO Stefano Domenicali says that the organisation will announce “very soon” its plans to rotate some European races from as early as 2026.

While the trend has been for flyway races to sign long-term deals, in many cases heading into the 2030s, the contracts of several European events that are running out in 2025 have yet to be extended.

An alternating deal for Spa and Zandvoort has long been mooted. The future of Imola is also unclear, while Barcelona still hopes to secure a race date after Madrid arrives on the schedule in 2026, and the Spanish GP venue could also be part of an alternating package with another event.

“As you know we have Madrid that will be part of the calendar,” said Domenicali of plans for 2026. “We have long-term deals on the other side that are representing the vast majority of our situation today.

“And these allow us, of course, to work with them in order to promote better quality, to make sure that what we want to offer to our customers is to a level of the highest standard.

“In ‘26 and further beyond of course, we have some news to share very, very soon, with regard to the possibility in the mid-term to have some rotational European Grands Prix, and some other new options coming later. And this is something that, of course, will clarify in due course.

“It is true that we have a large demand of even new possible venues that wants to come in, and our choice will be always balanced between, the right economical benefits that we can have as a system, and also to leverage the growth from the market, that we can see potential that will be beneficial for us to grow even further our business.

“So it’s something that we are managing in the right way. And thank God today we have a quality problem to handle, that was not the case just a couple of years ago.”

Domenicali says there are no plans to go beyond the current total of 24 races, despite interest from multiple venues.

“We believe that the balance we have in terms of numbers is the right one, so 24 is the balanced number that we feel is right,” he noted. “And I do believe that all the propositions are coming on our table are just giving us the possibility to make even the better choice for our future.

“So as always, we need to be balanced, knowing that we cannot follow only the pure direct financial proposition, because that is different from region to region, but it’s up to us to propose to our stakeholders the right choice.

“And I think that we are in a good moment to make sure that the strategy for the future is even stronger, and that’s why we are so confident about the fact that this will help to enhance our platform on the sport, on social and business perspectives.”

Domenicali added that there is no urgency to sign a new Concorde Agreement.

“First of all, it’s very important to remember that we have still plenty of time under the existing Concorde, so there is no urgent rush,” he said. “Conversations are progressing very well. And as we’ve said before, very, very positive, because at this moment the ecosystem is very solid.

“And also all the teams and the wider sport have had a huge benefit for everyone in this moment. So the financial security for the future and stability that we have today, it’s underlining in the work we are preparing.

“And as soon as we have everything ready, of course, we will inform everyone. But as always, as I said, we want to do the right thing. And consider there is no rush. Everything is progressing well, as we said, and looking forward to confirm to you when we’re going to announce something concrete.”

Meanwhile Liberty Media boss Greg Maffei is bullish in prospects for the Concorde.

“The most important thing for everybody, including ourselves and the teams, is to get it right,” he said. “And so we’re progressing at a good pace – with the expectation that everyone will sign with glee on their face.”

Leave a comment

Filed under Uncategorized

Liberty boss believes “goodwill” of F1 teams will ease Concorde negotiations

Liberty Media CEO Greg Maffei believes that the goodwill of Formula 1 teams will make for “easier” Concorde Agreement negotiations ahead of a new deal for 2026.

The current Concorde, which runs to the end of 2025, was negotiated during the COVID-19 pandemic in 2020 by then F1 boss Chase Carey.

Since then the teams have boosted their incomes as the sport has expanded, and their earnings from F1’s overall revenue have increased.

Maffei believes that the financial health of the teams in the Liberty era will encourage them to be co-operative as the new Concorde is discussed with Stefano Domenicali.

“We’ve just sent out the new draft of our proposed Concorde Agreement,” said Maffei. “There’s been some discussion with some teams about it, and where it will go. And so we have reason to think it should be relatively easier.

“I’m sure there are teams who will want more money than we want to give them. There’s always that tension.

“But I do believe the goodwill that we have created, and the general fact that they’re all not only making more money remember off of F1, but also their own sponsorship deals have been tremendously stronger – go look at the success of sponsorship at Red Bull, McLaren, even Ferrari now, with their new HP deal.

“The teams are doing very well to where they were before we got involved. So I think that hopefully that goodwill carries forward.”

Maffei made a comparison with the philosophy espoused by NFL Commissioner Roger Goodell, who spoke to the teams at last year’s Canadian GP.

He told them that a sports league and its participants both benefit from working together.

“Prior management, before Liberty, went out of their way to basically have the teams kind of screw each other,” said Maffei. “That was the whole attitude.

“And we’ve tried to take more of the – and full credit to Roger Goodell – fight on Sunday, but on Monday, we’re all together, this is one league, and we do better if we rise together. And I really do think there’s much more of that attitude.

“That doesn’t mean there’s lessened competition. But I think the teams appreciate that Liberty is playing the long game and trying to grow the sport, because that’s how we all profit.

“So in general, the sentiment around the teams towards Formula One Management is very good. And very positive.”

Leave a comment

Filed under Uncategorized