P1racenews AI automatic summary:
McLaren Chief Executive Officer Zak Brown claims that all 10 teams on the 2024 Formula 1 grid are “well north”
Brown provided insights on how Formula 1 owners Liberty Media have improved the financial aspects of the sport by adopting a franchise model similar to American professional leagues. This has led to a fairer distribution of prize money and broadcast profits among the 10 teams, with half the grid now being profitable, a significant change from five years ago. Recent investments into teams like Alpine and Aston Martin have increased their value, attracting interest from prospective F1 outfits wanting to enter the sport. However, FOM and Liberty aim to protect the value of existing teams, leading to unsuccessful bids from teams like Andretti. The expansion of the F1 calendar, with a record 24 rounds in 2024 and potential races in new territories like Asia, India, and South Africa, reflects F1’s growing global popularity and financial stability under Liberty Media’s leadership.
