Sochi recruits the CEO of Abu Dhabi

The organization of a Formula 1 Grand Prix in a new country is always a delicate step, especially during the first edition. Indeed, as in many other fields, the first impression is crucial for the future of an event. South Korea can attest to this: its first race was a communication disaster, with construction completed at the last minute and hotel facilities far from meeting the high standards of F1. After only four seasons, the event has already left the F1 calendar.

It’s a fate that Russia especially does not want to experience, amidst a communication campaign around global sporting events. This winter’s Olympic Games and the F1 Grand Prix are crucial in the eyes of the Russian government and Vladimir Putin in particular, and no false note could be accepted. Last May, Igor Yermilin, an advisor to the Russian Automobile Federation, stated: “The most important thing at the moment is the Olympic Games. The Grand Prix is being put aside. Even if there are serious delays in preparation deadlines, I have no doubt that this event will be a success. Our country has never failed in its obligations for such international events, especially since Vladimir Putin became our president.”

That is why it was decided to surround with actors having strong experience. This is clearly the profile of Richard Cregan, who presided over the fate of the Abu Dhabi Grand Prix during the last five seasons. Due to the splendor of the Yas Marina infrastructure, the Emirati event has become one of the references in F1, a position that Sochi would like to occupy one day. Thus, a consulting contract, spanning three years, has just been signed between the event promoter and the British consulting firm. Nevertheless, the former Toyota F1 manager will not sever all ties with his previous employer as he will remain an advisor to Abu Dhabi’s leaders.

Oleg Zabara, the Russian promoter, commented on the contours of the association: « The combined and impressive experience of these international consultants, their understanding of the Formula 1 world, and the desire to establish the Russian F1 Grand Prix at the highest level ensure a good result for our teamwork. The knowledge and experience they will bring during this cooperation will ensure that we will host a world-class Grand Prix but also that we will use the Sochi autodrome throughout the year. »

This last aspect is increasingly important: the various circuits cannot afford to survive with only one race week per year. They must find other events to ensure the economic viability of their facilities. A circuit like Silverstone, which does not receive any public subsidies, has become a master in this area.

With the participation of www.Racingbusiness.fr