Home

F1

Max Verstappen Single-Handedly Kills F1’s $1.1+ Billion Plan: “Liberty Media Can’t Be Happy About That”

Published 03/02/2024, 11:53 AM EST

Follow Us

via Reuters

Formula 1’s history in America has been a bit all over the map, literally. Over the years, the United States Grand Prix has been held in more than 10 different locations, totaling over 50 races. But F1 has been longing for stability in America. And it wasn’t until the US GP moved to Austin, Texas, that the sport finally started gaining some traction. For the past many years, almost 400,000 people have attended the Grand Prix every year. With the help of Netflix’s ‘Drive To Survive,’ F1’s popularity reached new heights, allowing the sport to invest heavily in its future in America. But it seems like Max Verstappen is inadvertently messing with Formula 1’s plan.

The sport spent over $1.1 billion to expand the number of races in the US in recent times. The construction of the Miami circuit took an estimated $40 million. And last year’s addition of the Las Vegas Grand Prix cost Formula 1 more than $1 billion. However, Red Bull and Max Verstappen’s dominance is causing the people of America to lose interest in the sport. Despite Formula 1’s growing popularity in recent years, viewership on ESPN platforms in the United States took a bit of a dip in 2023. Compared to previous years, there was about a 9% decrease, averaging around 1.1 million viewers per race.

And with Verstappen already showing the same level of dominance in the 2024 season opener in Bahrain, the dip in viewership is likely to increase, according to a recent tweet from Joe Pompliano. This is surely a piece of bad news for Liberty Media, the owners of Formula 1. Here’s what Pompliano wrote: “Max Verstappen is 16 seconds ahead of his teammate (+ everyone else) halfway through the first F1 race of the season. Viewership in the US was already down nearly 10% last year and Red Bull’s continued dominance will make it worse. Liberty Media can’t be happy about that.

ADVERTISEMENT

Article continues below this ad

“Fashion Is an Option”: Max Verstappen’s Post F1 Retirement Plans Revealed by CEO of His Personal Brand

Despite Red Bull and Max Verstappen’s continued dominance, Formula 1 has further plans to expand in the United States.

Formula 1 CEO is planning to add a 4th US Grand Prix to the F1 calendar

Last season, Formula 1 CEO Stefano Domenicali hinted at the potential addition of a fourth Grand Prix to the F1 calendar in America. While he acknowledged that three races are currently sufficient, Domenicali suggested that the sport is eyeing further opportunities to engage with the American audience.

ADVERTISEMENT

Article continues below this ad

Domenicali’s comments reflected the sport’s strategy of creating distinct experiences for each Grand Prix, emphasizing the importance of integrating the event with the host city’s unique personality. He mentioned during an interview with Sky Sports, “The most important thing is that every Grand Prix has to be different in terms of personality – we want to have the city living the event; that’s the magic of Formula 1.”

Trending

Get instantly notified of the hottest F1 stories via Google! Click on Follow Us and Tap the Blue Star.

Follow Us

ADVERTISEMENT

Article continues below this ad

Despite a drop in viewership in the last season, F1 officials are pursuing continued growth in the American market. The prospect of more races on American soil signals a significant development for Formula 1 in a market traditionally dominated by other racing series, notably NASCAR. Despite initial concerns about diluting the brand with too many races, the recent success of US Grand Prix events has reignited the passion among American fans who attend the race year after year.

Will F1 be able to pull off the New York GP that the sport has been eyeing for so long? Share your thoughts in the comments down below.

SHARE THIS ARTICLE :

Written by:

Veerendra Vikram Singh

860Articles

One take at a time

Veerendra Singh is a Motorsport writer at EssentiallySports who specializes in F1 coverage. Having followed the sport for more than 12 years, Veerendra excels in covering trend-setting articles and has covered Max Verstappen, Lewis Hamilton, Toto Wolff, and Charles Leclerc extensively during the 2023 F1 season. His Dale Earnhardt Jr post regarding the North Wilkesboro Speedway was shared by Save The Speedway Twitter account.
Show More>