Shanghai to extend F1 contract
While its contract with F1 expires this year, the Shanghai circuit is set to extend its presence on the calendar for years to come.
In recent months, the organizers of the Chinese Grand Prix have played the same negotiation card as Bernie Ecclestone, namely by making it known that F1 was not an essential event and that they might not extend their contract.
However, the change of shareholders within the sport seems to have altered the situation, as commented by Jiang Lan, the president of Juss Events, the event promoter, to the Shanghai Daily: « We have not yet gone into detail at our meeting this weekend. It was more about the sport itself and how to better promote it here. »
The businessman does not hide his preference for the new approach of the American group, instead of Bernie Ecclestone’s old school: « Obviously, we must thank Bernie for his contribution to the sport for such a long period. But it’s clear that the sport and its promoters are expecting changes and modernizations, particularly to expand the market. Chase (Carey, the new F1 director) may not know F1 as well as Bernie, but he agrees that F1 weekends need to be more fun, which aligns with what we want. »
It is thus worth noting that the promoters made the choice to develop a commercial activity at the entrance of the circuit, which was frowned upon by the previous management team: « Formula 1 is a disciplined sport, with strict rules even for the organizers. The activities and commercial stands we had set up near the entrance were questioned by the previous F1 management. But the new owners appreciate them. »
The fact that Heineken chooses the Chinese race as one of the events it will title-sponsor this season is a strong sign that the market is essential and cannot be ignored by the multinationals present in F1, which can only ensure a long-term presence on the calendar.
Jiang Lan thus hinted that the announcement of an extension was only a matter of time: « There is little suspense about whether we will keep the race or not. »
The promoter does not seem bothered by the fact that ticket sales figures remain at a historically low average, since 145,000 people attended the circuit over the three days, despite Friday being lost due to weather and ambient pollution. This is still far from the record of 270,000 set in 2005.
With the participation of www.racingbusiness.fr
