F1 marketing value justifies Jaguar programme
Ford VP and Jaguar Cars CTO Richard Parry-Jones has revealed in an interview with the Financial Times that the Jaguar Racing F1 team might have been closed last year, but was secured by Ford's positive review of the brand benefits. He said: "If we'd decided that it didn't make sense for the company to stay, then we would have pulled out. That wasn't excluded as a possibility. If you can't justify the investment to the shareholders, you can't just do it because you love it."
"Look at any American company and the amount of TV coverage F1 has been able to generate in the USA, and you can [understand] why there's a certain amount of scepticism about the commercial value of F1 - because they don't see it.
"What we did was [assess] the relative value of investing in F1 compared with other marketing opportunities. We looked at companies like Panasonic and HSBC. They have an unlimited range of options as to where they spend their money, so why do they choose F1? In our case, the value is several times higher by being the name of the car."
Be part of the Autosport community
Join the conversationShare Or Save This Story
WEC Imola: Ferrari remains on top in FP2 as Fuoco beats Porsche
WRC Croatia: Neuville, Evans tied for the lead after eight stages
WIN! A VIP Race Weekend Experience in Monaco
Lauda's 1976 German GP helmet to be auctioned at F1 Miami GP
How motorsport is embracing the opportunities of AI
The unlikely series providing an open door to innovation
Autosport writers' most memorable moments of 2023
How a lost Lotus that could have revolutionised Can-Am finally came to life
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments