$20,800,000,000 Worth F1 Owner Urged to Flex Its Muscles as FIA Enjoys Overpowering Influence

What came first for you: watching Drive to Survive or Formula 1 races? If the hit Netflix docuseries got you interested in the sport, you know who to thank for it—F1’s owner Liberty Media. When the American conglomerate took over F1 in 2017, it aimed to get the sport the recognition it deserves, not just from die-hard fans but also from newer audiences. It’s safe to say Drive to Survive has helped achieve that to some extent. Regardless of whether or not you’re a fan of the series, it’s difficult to deny the positive impact of Liberty Media on F1. How would it have become a $20.8 billion-worth powerhouse otherwise?

By straying away from Bernie Ecclestone’s outdated F1 vision, it’s like the sport has been revitalized, which is why Liberty Media has only itself to thank for becoming the most valuable sports empire in the world. Because of the pull it has, though, an F1 expert believes it needs to play a more significant role in the intricacies of F1.

Liberty Media or the FIA: Who should make the rules in F1?

When Liberty Media took over F1, it didn’t take over the sport. Rather, it took over the commercial rights of F1, leaving the rule-making powers in the hands of F1’s governing body, the FIA. That doesn’t mean Liberty Media hasn’t played a part in changing the sport. Since 2017, F1 has seen an increase in the number of races, a significant regulation change this season for closer racing, and the introduction of the cost cap to level the playing field. That’s all, to some extent, Liberty Media’s doing. 

When it comes to what goes into these rules, though, it’s all in the hands of the FIA. F1 commentator David Croft believes that needs to change. When asked what changes he’d like to bring to F1 on the Sky Sports Podcast, Croft said, “First and foremost, I’d have to stop the FIA being the rule-makers. That’s the trouble the commercial rights holder (Liberty Media) has. It’s that they don’t make the rules–they can have an influence because they have a standing on the F1 Commission, but they don’t make the rules. The FIA does.”

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He continued, “I think the time has come in F1 to actually bring the two parties a lot more closely aligned. They are a lot more closely aligned, and these regulation changes had been driven by F1 rather than the FIA.” Although these changes have seen a positive impact to a large extent, there are a few things Croft isn’t a fan of.

Is Liberty Media taking it too far with the number of races?

Now that F1 has seen a considerable increase in popularity, the American conglomerate believes increasing the number of races every season will be better for the sport. Last month, F1 released a mammoth 24-race calendar for 2024, and drivers like Max Verstappen and Lando Norris expressed their disregard for the same. While Croft believes the commercial aspect of F1 is as crucial as the sporting aspect, he too thinks 24 races are a lot.

He said, “We need to think about the show and the spectacle. Marketing sometimes needs to be a bit more important than engineering. But we need to also keep that balance in engineering as well. I think we’re at the limit for the amount of races. Maybe 24 might be a bit too much because to actually ask people to invest so much time in the sport—for 24 races as fans—is asking a huge amount.”

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Who do you think should be the rule maker in F1: Liberty Media or the FIA?