Formula 1 CEO Stefano Domenicali defends F1’s decision amidst accusations of the sport being too greedy. The Italian admits the importance of financial interests but pledges that F1 is not behind the greenbacks.

“Money is important everywhere, for us too,” Domenicali said, “But we’re not just looking at that, the whole thing has to be good. I’m not selling the soul of F1” (Translated using Google)

Domenicali also heaped importance on Formula 1 traveling countries with liberticide laws and highlighted the social causes of these countries. “We provide the spotlight in which hosts want to present themselves with a good image.”

He also gave the example of Saudi Arabia, where women were recently allowed to drive. The Italian added, “There are already early successes. In Saudi Arabia, women have been allowed to drive for four years.”

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The urbanization of the sport also means some of the long-serving popular European tracks may miss out on the F1 calendar next year, including the jewel in the crown of F1, The Monaco Grand Prix. The Belgian GP is also threatened while the German GP definitely seems out of the running. 

“If I don’t make a call myself, I see and hear little from Germany. They talk, talk, talk, but in the end you need facts. It’s a mystery to me how you can’t make money around a Grand Prix these days.”

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The luxurious city of Las Vegas and the rising popularity of the sport in the USA could play a key role in generating cash for the sport. Despite the GP being almost a year away, the demand is high and MGM Resorts have already purchased the equivalent of 25 million dollars of seats in stands.

The lavish hotel chain also revealed that it can sell hotel rooms almost thrice the price of normal times, making the overall inclusive packages up to an eye-watering $100,000.

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Liberty Media has certainly turned the fortunes of Formula One for the better. With the expansion of the race calendar as well as the arrival of the Las Vegas Grand Prix, it is taking the right steps in the right direction.

Since taking over from Bernie Ecclestone, Formula One has increased engagement through all the social media networks and the hermetic environment that Ecclestone created has diminished through time.