Bratches: "F1 like managing a start up"

F1's managing director, Sean Bratches has likened the business side of the sport to that of a start up company. Bratches is part of the three man management team under F1's current ownership along with Chase Carey and Ross Brawn, and has bemoaned the lack of any business side of the sport when Liberty took over the sport from Bernie Ecclestone in late 2016.

Bratches has refused to publicize Liberty's plans for the sport long term, and has explained that one of the reasons it has taken so long to prepare plans for the future is the lack of structure used by former F1 supremo Bernie Ecclestone, and said he didn't expect  it initially to be a problem they would have to address.

"The biggest surprise was there was no sponsorship team, there was no media rights team, there was no digital team, there was no research team and no research," he said. "So having an entity that is 67 years old, with a global brand, with over half a billion fans, with a rather enviable balance sheet, to have no commercial team was quite astonishing.

"I think that when you take a step back and look at the lay of the land in terms of how successful Formula 1's been without any focus on the commercial side – with this global brand, half a billion fans and doing well financially – think about the opportunity where you can bring in 21st century business practices and leadership.