Motorsport Week's team of writers got together to discuss what they believe will be the big questions for the 2019 motorsport season, covering all the major series from Formula 1 to IndyCar, WEC to DTM and everything in-between. We'll be posting one each day and today we ask…
10/19: How will Liberty fare in year three?
This week marks the second anniversary of Liberty Media’s full takeover of Formula 1 from CVC Capital Partners and Bernie Ecclestone. It has so far given Formula 1 a lick of paint, implemented some fixes and easy-to-amend weak points, and improved the structure of the organisation.
It has dragged Formula 1 into the 21st century in a digital manner and installed a more relaxed atmosphere. But now it’s going to get serious. Formula 1 teams are wary of the greater good – to borrow a phrase from Hot Fuzz – but they are, have been, are always likely to be determined by self-interest, presenting 10 different opinions.
Liberty’s approach is different to Ecclestone’s divide-and-conquer mentality but old habits die hard. There are pressing issues that need resolving, and press release friendly corporate speak only goes so far. A 2021 vision has been outlined but has yet to be fully defined, and the clock is ticking. Certain aspects – such as binding commercial agreements – have been deferred beyond the desired deadline.
The future of several Grands Prix, most prominently Britain, is up in the air, while there are few immediately viable alternatives. How can Liberty preserve the schedule, while expanding it, and doing so in a commercially viable manner? Racing circuits want discounts. Liberty, and by extension teams, need money. That brings us onto the budget cap – a can which is being gradually kicked further down the road to the frustration of small teams and ambivalence of front-runners – which in turn will have an effect on the stagnating competitive order.
These are all cogs in the machine. And there are many of them. For now faith must be placed in Ross Brawn (though Sean Bratches appears to have less widespread backing and the American corporate ‘buzzspeak’ adopted by him and Chase Carey has worn thin) but the honeymoon period is gradually wearing off. They are finding that while Ecclestone’s approach was not one they wished to continue, it had its advantages that they cannot replicate.
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