Formula 1 will replace Grands Prix with “unattractive agreements” as it bids to expand the calendar long-term, according to CEO and Chairman Chase Carey.
Formula 1 has targeted producing a schedule that could include as many as 25 Grands Prix, though this has met with resistance from most teams and some drivers.
Liberty Media has added Vietnam to the 2020 calendar with a semi-permanent street circuit set to be constructed to the west of Hanoi.
Next year’s schedule features the same 21 Grands Prix as 2018, with Liberty having inherited several deals agreed under the previous management, which was spearheaded by Bernie Ecclestone.
Carey, speaking during a Liberty Media investor meeting, commented that some Formula 1 events had become “stale”, prompting promoters “to focus on costs rather than growth”.
Carey explained: “Events today are more valuable, we have world class premium events.
“We need to focus on maximising the value of our events, and communicate that to host locations.
“We’re encouraged the message is getting through to both existing and potential new host cities.
“We expect to expand our calendar beyond our current 21-race schedule. Expansion will be modest, but we have been excited by the number, quality and diverse locations interested in hosting a race.
“We will not compromise in the quality of races for fees. It needs to be great for fans and be an attractive business proposition.
“The race we announced in Vietnam last week is a prime example of an event that will provide a great track for racing in a location that captures the world’s imagination.
“[But] we expect to replace a few existing races where we inherited unattractive agreements, with new events or agreements, that are better for racing and provide more value.”
Carey’s comments come in the wake of suggesting that the British Grand Prix could move to a different location after 2019, when Silverstone’s current deal expires.
Britain is one of several Grands Prix on the 2019 calendar that does not currently have a contract for 2020.
Events in Spain, Germany and Italy have soon-to-be-expiring contracts, while the future of the Brazilian Grand Prix remains uncertain.
Liberty renewed with Belgium and Japan through 2021, while is still pushing on with its plans to hold a Grand Prix in Miami, though has touted other as-yet-unconfirmed locations in the US should plans to host a race in Florida fall through.
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