From Monaco to Miami: Formula 1 bids to crack America

NEXT weekend, France. Last weekend, Austria. The one before, Britain. Formula 1’s calendar for July has a familiar look, with Grands Prix in its old European haunts, on circuits with half-a-century of history — three-quarters, in the case of Silverstone in Northamptonshire.

Yet, the diary has some new entries, and some old ones may be scratched out, or at least secure fewer dates in future. For Formula 1 is in the midst of a geographical and commercial shift, away from the old money and exclusivity of Monaco, Monza and the rest, and towards younger, often brasher, markets in the Middle East, Asia and, above all, America.

A few weeks ago ESPN, a big sports broadcaster owned by Disney, shook hands with Formula 1 on a new rights deal for the American market. For the 2019-22 seasons, ESPN was paying an annual fee of US$5 million. For 2023-25, it will reportedly hand over more than US$75 million a year.