IndyCar boss Mark Miles believes that the high race-hosting fees in Formula 1 could work in his series' favour as it explores opportunities to expand beyond North America.
The US single-seater series is in the process of attempting a transition into a season that begins and ends earlier in the year, with the hope of compensating for the lack of North American venues with a suitable climate for racing in February and March by adding a handful of overseas events.
The first step in that direction was intended to be a race in Brasilia earlier this month, however the event was cancelled in February after the local government withdrew its funding.
However Miles remains optimistic that IndyCar can succeed outside of North America, and he believes that it can do so by offering itself as a more viable alternative for markets that have been priced out of F1.
"We believe that there is a not-so-latent appetite for IndyCar racing around the world," Miles told AUTOSPORT.
"I think there is a great value proposition when you look at where we can come in, and what we can offer compared with Formula 1 when you think about price versus value.
"We don't have to charge the kind of sanctioning fees that race promoters in countries, and sovereign funds are paying for Formula 1.
"But I think we can offer a product that is seen as uniquely American, but is extraordinarily exciting racing. So I think there is a big opportunity for us."
IndyCar's planned expansion comes at a time where Formula 1's high sanctioning fees are coming under increasing scrutiny.
The German Grand Prix will be absent for the calendar for the first time in more than five decades this year due to the failure of the event organisers to agree terms with Bernie Ecclestone.
Meanwhile current South Australian tourism minister Leon Bignell recently told the Australian media that Adelaide will not attempt to recapture the grand prix from Melbourne as long as Ecclestone is in charge.
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