US GP organization confident of new F1 deal

US GP organization confident of new F1 deal

US GP CEO Bobby Epstein is confident his race will remain on the F1 calendar for a long time, despite his current 10-year contract expiring this weekend.

Sunday’s race at the Circuit of the Americas is the latest in a deal struck in 2012, when F1 returned to the United States after a five-year absence.

While no announcement has been made regarding the renewal of the contract, GPFans Global believes the race has a long-term future.

Speaking in an article for The New York Times, Epstein said: “We’ve proved that this is a phenomenon that has tradition now, it’s something you can’t buy and it takes years to set up. Huh.”

“When you find a formula that works, you don’t want to lose it. Anything that stalls this momentum will be potentially irreversibly damaging. I’m very optimistic that this will continue for a long time to come.” will remain,” he said.

After being forced off the calendar last year due to the Covid-19 pandemic, Epstein said the Austin circuit saw its revenue cut by 96%.

“We couldn’t have hurt more than in the spring of 2020, when we had to lay off many of our employees,” Epstein said. “It makes this year even more exciting.”

The event is bigger and better than ever this year, with a record 360,000 crowd expected over three days, with plenty of on-track action as well as off-site attractions.

According to Epstein, “Millions were invested in infrastructure, including new permanent and temporary stands.

“We’ve certainly seen that demand for tickets exists,” Epstein said. “We probably could have had another 100,000 sold this year. The improvements allowed us to increase the number of tickets we were able to sell, allowing us to increase our budget for entertainment at the event. allowed to increase significantly. ”

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Netflix’s ‘Drive to Survive’ series has also had a huge impact, said Epstein, who added: “Where we see recurring buyers, we now buy more tickets per transaction, which indicates that the same family may have a bigger impact on the number of tickets available for the same family.” More people are coming.”

“Also, the number of new ticket buyers and new inquiries has propelled us from previous service levels into this new stratosphere. This is the effect of Netflix bringing in new people,” he concluded.

About the author: Will Smith

Will covers public and private tech markets from New York. He was previously a Knight-Bagehot Fellow in Economics and Business Journalism at Columbia University, and prior to that was a reporter at the Los Angeles Business Journal. He has received a Journalist of the Year award from the L.A. Press Club and an investigative reporting award from the Society of American Business Editors and Writers.

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