Sports & Fitness

F1 supremo Domenicali hints at more parties wanting to buy teams

Chief executive officer delighted with steps taken by sport to attract more investors in coming seasons

Updated 4 years ago · Published on 19 Oct 2021 3:00PM

F1 supremo Domenicali hints at more parties wanting to buy teams
Formula One chief executive officer, Stefano Domenicali (pictured above), who is working hard on making all the right moves to get Formula One to progress in the right direction, believes ‘that the choices we’re making, like introducing sustainable fuels and revising the power unit, are the right strategic technical approach for Formula One’ to ensure business remains healthy – AFP pic, October 19, 2021

ROME – Formula One head, Stefano Domenicali, has teased that automotive manufacturer, Volkswagen, is set to enter the sport sometime this decade, with Audi and Porsche − the German giant’s two mega-brands – either coming in as engine providers or team owners.

“Regarding the future beyond 2022, there will be some other good news coming out soon, which I don’t want to spoil by saying now.

“We are going in the right direction and have reached a point where we can choose where Formula One will go in the future.”

Since Liberty Media took over from Bernie Ecclestone, a lot of positive moves have been made in the sport, namely the sport’s presence has increased on social media with teams strongly engaging with fans, and the influx of new fans has seen a rise due to the success of blockbuster series, Drive to Survive, on Netflix.

Moreover, a lot of praise has been received by Formula One for its focus on making the sport environmentally sustainable.

Stefano is working hard on making all the right moves to get Formula One to progress in the right direction.

“We hear there are a lot of interested parties who want to buy teams, and that means Formula One as a business is healthy, and that the choices we’re making, like introducing sustainable fuels and revising the power unit, are the right strategic technical approach for Formula One.

“We are challenging the system with the ambition for cars that are lighter, that can race each other, and that sound right. This is where we want to head, and this is what we’ve got to have in the future.” – Agencies, October 19, 2021

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