‘Mega hype’ around F1 pushing commercial growth, says Alfa Romeo boss

Alfa Romeo chief Frederic Vasseur believes the raft of fresh commercial deals being struck by teams proves there is currently a “mega” hype surrounding Formula 1.

‘Mega hype’ around F1 pushing commercial growth, says Alfa Romeo boss

F1 is currently enjoying a surge in interest across the world, aided by the success of the Netflix Drive to Survive series and expansion in markets such as the United States.

A number of teams have been reporting new commercial deals over the winter and adding new partners to their portfolio.

Off the back of Max Verstappen’s title win last year, Red Bull has struck sizeable deals with US tech giant Oracle and crypto company Bybit, while Ferrari has welcomed two new major partners in Santander and Velas.

Alfa Romeo has also been prolific in announcing new deals throughout the winter, linking up with over a dozen new partners since the end of last season. The team also enjoyed a boost thanks to the backing brought by new signing Guanyu Zhou, who becomes China’s first full-time F1 driver this year.

Alfa Romeo team principal Frederic Vasseur felt the influx of new commercial deals for F1 teams was proof of the growing interest around the series, making it attractive for businesses to get involved.

“It’s a combination [of things] but the hype around F1 is mega,” said Vasseur.

“We saw it last year at different events, we had the biggest number of spectators in F1’s life in Austin last year. It was a mega event, and the TV audiences are going up.

Frederic Vasseur, Team Principal, Alfa Romeo Racing, in the Press Conference

Frederic Vasseur, Team Principal, Alfa Romeo Racing, in the Press Conference

Photo by: Mark Sutton / Motorsport Images

“I think that we are very, very attractive as a sport, more and more, and as a team also because we have ambitions. I think we are building up a strong project with new sponsors coming in.

“It’s a great feeling. Sorry if we bother you with the press releases! But it’s a great feeling to have new sponsors joining the team every day.”

Vasseur told Autosport over the winter that the added backing brought by Zhou would allow Alfa Romeo to run close to the budget cap of $140 million per year, calling it a “mega opportunity”. 

McLaren Racing CEO Zak Brown recently predicted that F1 was set for a strong decade commercially thanks to the growing interest across the world.

This year’s calendar was due to be the biggest in F1 history with 23 races originally planned, but the schedule currently stands at 22 following the cancellation of the Russian Grand Prix. F1 boss Stefano Domenicali felt there would be “no problem at all” in replacing the race.

Qatar and China are set to rejoin the calendar next year, while talks are ongoing with Las Vegas that would expand F1’s footprint to three races in the United States.

shares
comments
The driver comeback story to watch in F1 2022
Previous article

The driver comeback story to watch in F1 2022

Next article

Mazepin to set up foundation for excluded athletes

Mazepin to set up foundation for excluded athletes
The 10 stories to watch out for across the rest of the 2022 F1 season Plus

The 10 stories to watch out for across the rest of the 2022 F1 season

It’s 13 down, nine to go as the Formula 1 teams pause for breath in the summer break. But what can we expect to happen over the next three months from Belgium to Abu Dhabi? Here's the key storylines to keep an eye out for the rest of the 2022 season

The inconvenient truth about F1’s ‘American driver’ dream Plus

The inconvenient truth about F1’s ‘American driver’ dream

OPINION: The Formula 1 grid's wait for a new American driver looks set to continue into 2023 as the few remaining places up for grabs - most notably at McLaren - look set to go elsewhere. This is despite the Woking outfit giving tests to IndyCar aces recently, showing that the Stateside single-seater series still has some way to go to being seen as a viable feeder option for F1

Formula 1
Aug 17, 2022
How a bad car creates the ultimate engineering challenge Plus

How a bad car creates the ultimate engineering challenge

While creating a car that is woefully off the pace is a nightmare scenario for any team, it inadvertently generates the test any engineering department would relish: to turn it into a winner. As Mercedes takes on that challenge in Formula 1 this season, McLaren’s former head of vehicle engineering reveals how the team pulled of the feat in 2009 with Lewis Hamilton

Formula 1
Aug 15, 2022
The under-fire F1 driver fighting for his future Plus

The under-fire F1 driver fighting for his future

Personable, articulate 
and devoid of the usual
 racing driver airs and graces,
 Nicholas Latifi is the last Formula 1 driver you’d expect to receive death threats, but such was the toxic legacy of his part in last year’s explosive season finale. And now, as ALEX KALINAUCKAS explains, he faces a battle to keep his place on the F1 grid…

Formula 1
Aug 13, 2022
The strange tyre travails faced by F1’s past heroes Plus

The strange tyre travails faced by F1’s past heroes

Modern grand prix drivers like to think the tyres they work with are unusually difficult and temperamental. But, says  MAURICE HAMILTON, their predecessors faced many of the same challenges – and some even stranger…

Formula 1
Aug 12, 2022
The returning fan car revolution that could suit F1 Plus

The returning fan car revolution that could suit F1

Gordon Murray's Brabham BT46B 'fan car' was Formula 1 engineering at perhaps its most outlandish. Now fan technology has been successfully utilised on the McMurtry Speirling at the Goodwood Festival of Speed, could it be adopted by grand prix racing once again?

Formula 1
Aug 11, 2022
Hamilton's first experience of turning silver into gold Plus

Hamilton's first experience of turning silver into gold

The seven-time Formula 1 world champion has been lumbered with a duff car before the 2022 Mercedes. Back in 2009, McLaren’s alchemists transformed the disastrous MP4-24 into a winning car with Lewis Hamilton at the wheel. And now it’s happening again at his current team, but can the rate of progress be matched this year?

Formula 1
Aug 11, 2022
Why few could blame Leclerc for following the example of Hamilton’s exit bombshell Plus

Why few could blame Leclerc for following the example of Hamilton’s exit bombshell

OPINION: Ferrari's numerous strategy blunders, as well as some of his own mistakes, have cost Charles Leclerc dearly in the 2022 Formula 1 title battle in the first half of the season. Though he is locked into a deal with Ferrari, few could blame Leclerc if he ultimately wanted to look elsewhere - just as Lewis Hamilton did with McLaren 10 years prior

Formula 1
Aug 9, 2022