No, the new 2014 technical regulations are not the biggest threat facing the sport. Well, had Bernie’s bribery case not developed into what it has – i.e. he will stand trial in Germany – perhaps that would have been the case. But, for now, Formula 1 faces the Bernie threat!
Formula 1 has failed to create a succession plan on many levels. The only area where succession has succeeded is in finding drivers, but even there pay drivers now rule the roost. Nevertheless, we did have a ‘Baby Schumi’ years after the original ‘Schumi’ hung up his boots (and then put them back on briefly).
After an envious run as the sport’s top executive for nearly four decades, where he steered the sport from being a ‘European Championship’ to a ‘World Championship,’ and helped Formula 1 teams ‘earn’ far more money than they imagined – well, some anyway – Bernie has been made to step down by the Board to protect the sport’s interest and allow him to fight the charges of bribery levelled against him. Although, it must be noted that barring the ‘authority’ to sign contracts, Bernie will still hold ‘operational control,’ which, I believe, is actually good for the sport in the short term.
The brand of Formula 1 has appreciated immensely under Bernie’s reign, and all the stakeholders have reaped significant financial benefits – although there’s been talk of a financial crunch in the sport for a few years now, but, like Bernie himself put it, the blame lies more with the teams that with the FOM (Formula One Management). But that’s a debate for another day...
Formula 1 is, today, one of the few annual World Championships hosted successfully across the globe – and the circus-style management, multi-million dollar broadcast contracts, emerging markets expansion, and even the non-existence of Formula 1’s social media strategy are all Bernie’s brainchild, and doing. With him gone, is there anyone who can immediately take the helm and ensure that the sport succeeds at a time when survival is key?
The answer to that is a tough one, obviously, but a fresh perspective might just help. The key to Formula 1’s future is cost control and ensuring that it sheds its ‘the more money you spend, the faster you go’ image. And the cost control I’m talking about starts from the engineering costs and ends with the price that fans and sponsors end up paying to grab a share of the Formula 1 pie. Affordability has never been Formula 1’s motto, but, then again, given the changing global economic scenario and the rise of cheaper and slower – but more attractive – sporting properties, sensibility should probably take precedence over the self-indulgent attitude of Formula 1. I, for one, sincerely hope it does.
While finance and costs is one aspect, the other aspect the sport could benefit from is marketing, which I believe is non-existent. The sport is too dependent on team’s doing their bit! Given that the sport is reaching out to newer territories almost every season, little is being done to speak to the fan who will probably purchase a ticket or tune into a TV broadcast for the first time. There’s also the ever evolving and important social media platforms that Formula 1 hasn’t used as effectively as it could. And I’m not even talking about the fact that live streaming is lacking. Clearly, the sport is ahead of its time in terms of engineering, but lagging when it comes to fan engagement and accessibility. It could well be that a younger perspective is needed.
The other succession that I think the sport needs to focus on is on the engineering side. I say this even more so in the wake of Ron Dennis making his comeback with McLaren after the team faced one of the worst seasons in the sport since the 80’s. On a similar note, there’s talk of Brawn returning to McLaren and helping them focus on the 2015 season, when they reunite with Honda as engine suppliers. And, of course, there’s the genius of Adrian Newey – who is possibly on every team’s shopping list! Is it only the old, wise, and experienced heads who can win you a Formula 1 Constructors’ World Championship? Well, that’s what the statistics seem to suggest.
So, perhaps this fresh perspective needs to be less technical and more practical – allowing customer cars to go racing, reducing dependence on engineering, and bringing the focus back on the driving. But, then again, I don’t think Bernie’s crossed the chequered flag quite yet. His reign shall continue – if only for a little while longer!
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