P1racenews AI automatic summary:
Dorna says “we have to lift the entire enterprise” as MotoGP targets increased sponsorship revenue under new ownership.
Dorna’s chief commercial officer Dan Rossomondo has acknowledged that MotoGP is falling behind in terms of fully leveraging the business aspect of the championship. Despite being the world’s second most popular racing series, MotoGP has relatively few sponsors directly linked to the championship. While long-time partners like BMW, Tissot, DHL, and Michelin remain, the addition of sponsors has been limited, with only Qatar Airways and Estrella Galicia joining in recent years. Compared to Formula 1, which has seen significant commercial success, MotoGP has some catching up to do in attracting a diverse range of sponsors from various industries. With Liberty Media’s acquisition of an 84% stake in Dorna, expectations are high for MotoGP to follow in F1’s footsteps and expand its commercial reach. Rossomondo emphasizes the importance of broadening MotoGP’s appeal to non-endemic brands and focusing on creating value for potential partners. The success of F1 in attracting sponsors has also benefited racing teams, who now experience increased revenue both from prize money and sponsorships. Teams in F1, notably McLaren, have thrived with title sponsors and diverse sponsorship portfolios, showcasing the need for all entities in MotoGP to enhance their commercial strategies and partnerships.
