Lotus supremo Gerard Lopez believes that Formula One’s “archaic management” is to be blamed for the decline in F1’s market.
The F1 has been struggling to attract sponsorship from the world’s biggest brands, though it continues to claim that there’s multiple global opportunities that are offered on an annual basis.
“Why do these potential sponsors never make the leap when they are not really undaunted by the amounts requested in F1? What’s holding them back? Is it because of the sport’s archaic management and organisation?” Lopez told AutoHebdo.
Lopez believes that the system in which there is a growing disparity between the top and bottom teams has pushed the potential sponsors away from the sport.
“While around 900 million (US) dollars (£585m) are redistributed to the teams every year, the system keeps giving too much to the haves and too little to the have-nots,” added Lopez.
The businessman also added that the sport should be exposed to a younger audience as well, and that it should not only be engaged through television but also the internet and the world of social media.
“Formula One TV ratings are declining steeply whereas the show on track is exceptional, albeit still improvable.”
Photo credits: wemotor.com
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