The consensus in the Formula 1 paddock is that Liberty Media is on the right path. The Formula 1 summer break has given the F1 circus time to take a breath and look at the seven months since the American media company took over the Formula One Group from Bernie Ecclestone. So far, most like what they see. “We have been actively engaged with all teams to shape a shared vision for the sport that will create real value for all stakeholders,” says Chase Carey, the chairman and CEO of Formula 1. “We are pleased with the collaborative discussions we are having with the teams. These discussions will take time, but we appreciate their receptivity toward further aligning our incentives for the long-term benefit of the sport.” Carey says that Liberty is not overly keen on pay TV unless the markets support it. This is not the case in many of F1’s heartlands, which have suffered from switching away from free-to-air (Forbes reported in 2015 that F1 claimed losses of 25 million viewers worldwide in 2014 and pointed to pay TV as a major reason). Liberty wants to get F1 back in the living rooms while also developing social media. “From the outset, we have focused on getting fans closer to the action and broadening the appeal of the sport,” says Sean Bratches, F1’s new commercial head.

Fernando Alonso spends time with the fans ahead of this summer's F1 British Grand Prix. LAT PHOTOGRAPHIC

Red Bull team principal Christian Horner, an Ecclestone ally, says that F1 and Liberty Media are still in the honeymoon stage. “So far, it has been very encouraging,” Horner says. “It is certainly different. Bernie did a wonderful job in building the business into what it is today. Liberty has a different approach, which is focused on engaging with fans, driving the eyeballs, creating great events. And we’ve seen them using other avenues that previously were not available, notably social media. I think they have been very proactive, working with promoters. And they have relaxed some of the rules with the teams, such as branding, and they are actively trying to promote the sport with things like F1 Experiences and, of course, the F1 fan event in London, which was a tremendous success. "I think taking F1 to the public is creating better awareness, a better following and a better sport for business. Chase is a sharp guy. He’s built a good team with Bratches and Ross Brawn on the technical side, and what is clear is that they very much drive what the product of F1 is going to be.” Niki Lauda, non-executive chairman of Mercedes-AMG Petronas, has a similar assessment, with one reservation. “I think they are doing a good job, no question about it,” Lauda says. “The only thing where they could have been stronger is with the ‘Halo.’ They could have made the point to the FIA and said, ‘Look guys, for our sport, there has to be a little bit of danger left so that these drivers are recognized as the best in the world.’ But they are trying hard to understand it all. Ross Brawn is doing a good job. He speaks our language, and speaking with him is easy and doesn’t need any translation.”

Haas drivers at the F1 Live event in London. LAT PHOTOGRAPHIC

Renault F1 boss Cyril Abiteboul says that they are doing “a fantastic job on the promotional side” and believes that they will be good for the sport. “They still have a lot of things to learn with the politics of Formula 1, but they are clever people, and I have no doubt that they will make their vision of the sport work in the long term.” McLaren boss Sheikh Mohammed bin Isa Al Khalifa thinks the paddock needs to give Liberty Media some time. “The attitude that Liberty has brought is more collaborative and strategic,” Khalifa says. “This means that it is something that everyone in the paddock needs to get used to. It is a completely different way of looking at things. They are going to try new things, but they have a long-term view. We have to be patient, but they seem intent to make the sport grow. They want sustainable teams and a sustainable sport by making it exciting for the fans and sustainable for the promoters. The only way for them to do that is to grow the sport. That’s their philosophy, and we just have to be more accepting of change and more collaborative. We just need to give them a chance, listen and take a long-term view.”

Lewis Hamilton has bought into social media in a big way. LAT PHOTOGRAPHIC

Others, such as 1997 F1 champion-turned-commentator Jacques Villeneuve, are skeptical. “I am not sure yet,” Villeneuve says. “What Liberty has done with London was great. It was fun. It was image, but it doesn’t really affect the racing, which is what really matters at the end of the day. That’s my biggest worry because you should never try to create a better show. Every time you try it, you destroy it. There is always the thought that this change will be amazing, but the other 10 things that come with it are not thought about, and they are actually destructive. That’s why you should leave it alone and let the men be men.” Race promoters, like Canada’s François Dumontier, are optimistic. “Our relationship with the F1 new management has been quite positive,” he says. “I had the opportunity to discuss the future with them in the recent months and during our Canadian GP, where they have been proactive. “I fully support their vision to bring our sport closer to our fans.”

This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. You may be able to find more information about this and similar content at piano.io