Preview

Bernie Ecclestone’s Formula for Formula One

Powerful Essays
Open Document
Open Document
3591 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Bernie Ecclestone’s Formula for Formula One
!
!

Bernie&Ecclestone’s&Formula&for&Formula&One&
!
!
Formula!One!motor!racing!!(F1)!is!big!business.!!From!the!first!Grand!Prix!in!1906!it!was!able!to!
generate!excitement!among!fans!and!media.!!But!it!is!only!since!its!reinvention!in!the!1980s!that! the!sport!has!been!able!to!generate!a!commensurate!level!of!excitement!among!business! observers.!!!
!
F1!is!one!of!the!worlds!most!popular!–!and!profitable!–!sports.!!It!thrills!a!television!audience!of! over!500!million!fans!per!year!who!watch!its!20!twenty!races,!held!in!19!countries;!a!single!race! can!draw!an!audience!of!over!350m.i!!Racing!enthusiasts!in!Europe!and!the!Middle!East,!across!
Japan,!South!America!and!China,!eagerly!tune!in!to!see!drivers!race!the!serpentine!turns!of!Grand!
Prix!courses!in!the!fastest,!most!technically!advanced!cars!in!the!world,!whose!performance!is! continually!modified!and!extended!according!to!rigid!guidelines!–!the!“formula”!in!Formula!One.!! !
F1’s!success!is!in!large!part!due!to!the!efforts!of!one!man:!Bernie!Ecclestone,!a!former!used!
motorcycle!salesman!with!the!business!acumen,!guts,!and!entrepreneurial!spirit!to!harness!the! potential!of!what!once!was!a!dysfunctional!sport!and!create!an!empire.!!! !
But!the!teams,!promoters,!sponsors,!car!constructors,!track!owners!and!other!players!that!make!
up!this!byzantine!business!have!deeply!mixed!feelings!about!Ecclestone!position!in!the! ecosystem.!!!!For!while!everyone!participates!to!help!F1!bring!in!the!big!money!–!the!sport’s! direct!total!revenue!was!over!$1.5!billion!in!2011,iii!and!indirect!revenues!a!multiple!of!that!–! profits!!trickle!down!unevenly.! !
!"It!can't!be!that!the!main!players!have!lost!control!over!Formula!One,"!said!Ferrari!CEO!Luca!di!
Montezemolo,!"and!that!a!single!person,!Ecclestone,!collects!the!lion's!share!of!revenues!while!we! are!fobbed!off!with!peanuts.iv"!!! !
‘It!can’t!be…’!!But!it!is.!
!

You May Also Find These Documents Helpful

  • Good Essays

    Nascar Case Study

    • 710 Words
    • 3 Pages

    NASCAR has become an American household name that has successfully built their company by offering live racing entertainment, partnering with sponsors, marketing families, and capitalizing on branding by offering merchandise to consumers. Although NASCAR is highly prosperous, they could continue to increase their revenue and expand their achievements by insulating themselves from economic downtown, preforming a SWOT analysis, and by leveling criticism again them.…

    • 710 Words
    • 3 Pages
    Good Essays
  • Better Essays

    Essay On Auto Racing

    • 2259 Words
    • 10 Pages

    Motorsport is a broad term which is used for description of all the events which involves competition using motorized vehicles. “The motorsport can either be racing or non-racing completion. Examples of some of the racing competitors against each other include the following: motor rallying, boat racing, auto racing, air racing, kart racing, hovercraft racing, truck racing as well as snowmobile racing. On the other hand, non-racing motorsport does not involve racing and include the following: motorcycle trials, freestyle motocross and tractor pulling”, Featherstone, 2004. This paper concentrates more on the auto racing motorsport.…

    • 2259 Words
    • 10 Pages
    Better Essays
  • Good Essays

    This is a really tough decision and the mind is constantly changing against to the conclusion. But after a thorough consideration, I don't think the team should race this time. John should get more data and information for the engine failure until he decides to race again for the next season. There are numerous ways to decide to race or not for John Carter when it comes to decision making. He can make the decision based on either his fellow chief mechanic Tom's view, or the engine expert Paul's assumption. However, regardless either way, the conclusion should be reached by some sort of quantitative analysis.…

    • 993 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Auto Insurance Essay

    • 380 Words
    • 2 Pages

    they can serve to insulate you from economic upheaval in the case your car is destroyed or stolen or even from bankruptcy in the event you are sued for damages someone sustained in an accident involving your car. The author guides the reader through several key criteria which should be considered in an analysis of their own policy.A 12 page overview of the world of automobile insurance. Choosing adequate automobile insurance can be one of the most cost effective things an individual can do in this modern age. Not only can automobile insurance This 6 page paper provides an overview of the basic management strategies of the USAA insurance company. This paper considers the management perspective and strategy, as well as the operational function of the company and the increasing importance of restructuring principles for the company. premiums whittle away a sizable chunk from an individual’s take-home pay, they can serve to insulate you from economic upheaval in the case your car is destroyed or stolen or even from bankruptcy in the event you are sued for damages someone sustained in an accident involving your car. The author guides the reader through several key criteria which should be considered in an analysis of their own policy. 6 pages. The BMW M3 has been the subject of many articles and consumer report studies recently. Rating cars is not only just an annual task for automotive journalists but it is also a subject which auto enthusiasts look forward to eagerly each season. Did their favorite car make it to the top? What did the critics have to say about it? And do these opinions agree with those who actually own these cars? This paper focuses on the BMW M3 in the sports car class. For those who own the BMW M3 it is likely they will claim that hands down it is the best sports car they have ever driven. Although not all of the auto magazines rated the BMW M3 as number one, most owners will disagree. The BMW M3 has everything a driver wants in a sporty car. By…

    • 380 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Om Strategy Analysis

    • 1510 Words
    • 7 Pages

    For the success of Jordan Grand Prix, who want to test their capacity and future ability for new challenges, its main operational skills and change can be summarized as the formula one brand, three unique objectives, team work and more than five deep dives for a better management.…

    • 1510 Words
    • 7 Pages
    Better Essays
  • Good Essays

    Nascar (National Association for Stock Car Racing) is a world apart from Formula One. Both are exceedingly popular, yet they lie at diverse ends of the motor sports spectrum. Most people who have an obsession with cars and racing may know about Nascar and Formula One, the two most respected names in motorsports today. At first glance, Nascar and Formula One seem very similar; however, a closer look reveals many differences such as aerodynamics, mechanical caliber, speed and horsepower, race tracks, fan base, and histories.…

    • 705 Words
    • 3 Pages
    Good Essays
  • Satisfactory Essays

    NASCAR’S roots can be traced back to the prohibition when moonshine runners would race their modified cars they used for transporting moonshine and to evade capture by the police. This trend continued across the country most famously on the white sands of Daytona Beach. Then around 1941 at the Streamline Hotel in Daytona Beach Florida the National Association of Stock Car Auto Racing (NASCAR) was born, it was the first sport of its kind offering sanctioned races for spectators to watch and enjoy. NASCAR came to a prime starting in the 1960’s and stretching into today with names like Bobby Allison, Richard Petty, Cale Yarbrough and Dale Earnhardt Sr just to name a few. Tens of thousands of fans and millions watching on tv were amazed by the…

    • 187 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Peter Singer, believes that people who are wealthy, and live a luxurious lifestyle should donate their money to overseas aid organizations, and although Singer believes “the formula is simple”, I disagree. When Singer states that giving away money is an easy thing task, I believe that even for the prosperous it is not. Not for the fact that they don't have the money, but for the fact that the need for food and medicine is far too great, and dispersed around the world that not everyone would receive this aid.…

    • 377 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    NASCAR Branding Success

    • 1250 Words
    • 5 Pages

    In the past 60 years, National Association for Stock Car Auto Racing (NASCAR) has become one of the top auto-racing series in United States and the number one spectator sport in America.[i]…

    • 1250 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    Nascar vs Formula 1

    • 1063 Words
    • 5 Pages

    Alright, so beginning with NASCAR , this is a very unique form of racing that is very popular within the southern and southwest portions of the United States and targets a very specific demographic of people. If you’re going to attend a NASCAR race, expect to sleep in an RV, eat cheap fast food or cooked barbecue off the grill, drink beer and make friends with random strangers. So essentially if you’re generally a really laid back type of person who just wants to have fun, and you’re into cars or racing then NASCAR is just right for you. Essentially NASCAR is your modern day “colloseum” that is soley dedicated for human entertainment. Now on the flip side we have Formula One which takes an entirely different approach towards racing. When at a Formula One Race expect to “dress to impress” , be surrounded by very high class individuals and businessmen , drinking fine champagne , and viewing the event from within a 5 star hotel suite on plasma television screens. Formula One races take place predominately all over Europe and is mainly geared towards sophisticated people, that are interested in latest and greatest car technology meshed with the highest grade professionalism possible.…

    • 1063 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    They were many memorable moments in Steve’s racing career, he truly enjoyed the camaraderie between the drivers and crews of all the teams. They were all were racing against one another, yet working together for the same goal. He especially enjoyed visiting with all the fans; as he would always stop at the different rapids on the way to and from the race. His favorite fans were those along the Salmon River.…

    • 72 Words
    • 1 Page
    Satisfactory Essays
  • Satisfactory Essays

    Chrysler is operated by Fiat. Chrysler has only two models coming into the current market. Chrysler is only producing one-third the rate of Ford, Honda and the Korean automakers and less than half the industry.…

    • 600 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    * Sciffman, L., O’Cass, A., Paladino, A., D’Alessandro, S. and Bednall, D. 2011. Consumer Behaviour, 5th Edition. Pearson Prentice Hall: Australia…

    • 828 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    1. What are the cultural differences that may impede success after the merger and acquisition?…

    • 1706 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    Staff and students of the University of Glamorgan are reminded that copyright subsists in this extract and the work from which it was taken. This Digital Copy has been made under the terms of a CLA licence which allows you to: • • access and download a copy; print out a copy;…

    • 17429 Words
    • 70 Pages
    Powerful Essays