Quick S<strong>of</strong>a, design Studio Cappellini, 2004 Progetto Oggetto Lamp, design Marcel Wanders, 1998 Cappellini Miami 10 N.E. 39th St. ph. 305.576.3636 www.frauatlantica.net Poltrona Frau Group
BUSINESS Formula One or Formula Money? WHAT’S THE BUSINESS TURNOVER OF THE MOST EXPENSIVE SPORT IN THE WORLD BY CINZIA RIZZI Quando si parla di Formula 1, non si può che parlare di soldi, la vera benzina di uno degli sport più seguiti al mondo. Con una media di 580 milioni di spettatori televisivi all’anno, non ci si può di certo aspettare uno sport economico, o che badi a spese. Le statistiche dicono che ogni Gran Premio di F1 produca in media un guadagno di $229M, circa 10 volte il suo più prossimo avversario, l’NFL, che ne genera “solo” $24M ad evento. Considerando quindi un campionato, come quello attuale, composto da 19 gare, il pr<strong>of</strong>itto complessivo di una stagione di F1 è pari a $4.3B. Ma da dove arrivano tutti questi soldi? Semplice: diritti commerciali (race sponsorship, corporate hospitality and broadcast fees), rendite dei team (sponsorship and contributions from partners and owners) e pr<strong>of</strong>itti dei circuiti (ticket sales and sponsorships). When we speak about Formula One, we cannot help but speak about money, the real fuel behind one <strong>of</strong> the most followed sports in the world. With an average <strong>of</strong> 580 million television-viewers per year, forget about it being an inexpensive sport, moreover a mindless expense. Law <strong>of</strong> averages says that every F1 Grand Prix generates, on average, $229 M which is nearly ten times that <strong>of</strong> its closest competitor - The NFL - which generates “only” $24M per game. Therefore for a championship such as the current one, composed <strong>of</strong> 19 races, the gross amount <strong>of</strong> a F1 season is $4.3B. Andiamo con ordine. La Formula 1, come si sa, è tutta nelle mani di un unico uomo: Mr. “$3.7B” Bernie Ecclestone, presidente della FOM (Formula One Management). Per essere più precisi, è nelle mani sue e in quelle del gruppo finanziario britannico CVC Capital Partners, che dal 2005 detiene il 70% del Formula One Group. Ecclestone e CVC possiedono in pratica i diritti commerciali e finanziari della Formula 1; controllano l’organizzazione delle gare; provvedono agli investimenti parziali su circuiti e scuderie; mantengono i diritti commerciali sui nomi delle scuderie, il logo ufficiale della Formula 1 e detengono infine i diritti televisivi. Diritti che rivendono poi a circa 80 emittenti in tutto il mondo. Per fare un esempio, la televisione inglese ITV, che aveva l’esclusiva per la Gran Bretagna fino al 2010, paga intorno ai $57M all’anno alla FOM per poter trasmettere le gare e tutto ciò che gli gira intorno. E non è poco. But where does all this money come from? It is simple: commercial rights (race sponsorship, corporate hospitality and broadcast fees), team gains (sponsorship and contributions from partners and owners) and circuit incomes (ticket sales and sponsorships). To begin, Formula One, as everyone knows, is entrusted to one single man: Mr. “$3.7B” Bernie Ecclestone, FOM’s (Formula One Management) President. To be exact, the entire management is in his hands and in CVC Capital Partners’ hands, the British financial group that since 2005 has held 70% <strong>of</strong> Formula One Group. Ecclestone and CVC basically own Formula One’s commercial and financial rights. They keep the commercial rights <strong>of</strong> team names, <strong>of</strong> the <strong>of</strong>ficial F1 logo and <strong>of</strong> all broadcasting rights, rights that they resell to about 80 television stations worldwide. For example, British ITV, which had a corner on F1 for Great Britain until 2010, pays FOM nearly $57M per year to be able to broadcast all the races and everything related to them; it is not an inexpensive price. When we speak <strong>of</strong> the teams, we first ask ourselves, how much does it cost to build up a team from scratch? Tony Fernandes, Lotus F1’s new team principal, said he accepted this challenge despite the economic crisis because according to him, “Formula One is a great business for other business to sit on as a platform”. To begin, he needed a budget <strong>of</strong> $55M only for the first year. Indeed, for an entire season teams must pay out higher prices, even on the basis <strong>of</strong> results. Top teams reach nearly half a million dollars (McLaren $445.6M, Ferrari $433.3M, Renault $393.8M); smaller .25
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