F1 has laid down six strategic priorities to ensure a long-term stability of the sport under its revamped Corporate Strategy.
F1 is to celebrate 70 years of its existence in 2020 after starting out in 1950. From seven-race calendar, it will have 22 now this year, which is the most in its history. Since Liberty Media took over in 2017, the American company looking at ways to bolster its image.
Along with multiple sponsorship deals, F1 launched its own Netflix programme, ‘Drive To Survive’, which reached to the masses and made the sport more popular. On the environment side, they are already working towards sustainability.
It aims to have sustainable events by 2025 and reach net carbon zero by 2030. Looking ahead, F1 has revamped its Corporate Strategy with six key points named to ensure long-term sustainability of the sport. They are:
- Race: Increase competitiveness and unpredictability on track;
- Engage: Produce world-class spectacles for fans on and off track;
- Perform: Drive value for our stakeholders;
- Sustain: Deliver sustainable and efficient operations;
- Collaborate: Create win-win relationships with our partners; and
- Empower: Build an engaged, high-performing workforce.
Here’s the PDF showcasing details of the strategy
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