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The future of the Chinese Grand Prix at the Shanghai International Circuit seems to have been given a boost following a partnership that was signed between Formula 1 and Lagardere Sport and Entertainment - a marketing company.
In order to increase the profile of Formula 1 in China, Liberty Media has completed a deal with Lagardere Sport and Entertainment with the ambition of growing the nation's audience figures by improving the entertainment at a grand prix.
Sean Bratches, F1's new managing director of commercial operations, was keen to push the deal forward due to Asia being a key region where F1 could expand in the future, thus allowing the sport to expand and develop.
"We have a proud and longstanding relationship with motorsport in Asia, working with some great motor race circuit owners and successful race promoters from Singapore to Suzuka in Japan through to Shanghai in China," said Bratches. "Across the region, Formula One fans have proven themselves to be some of the sport's most passionate supporters with over 8.8 million people attending race weekends since 2004.
"We are keen to build on this, developing our brand through unique live entertainment experiences designed to get fans closer to the action," he added. "We're delighted to be working with Lagardère Sports, whose knowledge of the market in China will help establish long-term benefits for all our partners and brands that we work with."
Lagardere Sport and Entertainment was founded in 1992 and have played a key role in sport, promoting Asian Football Confederation events in China. Their chief executive, Andrew Georgiou, said: "Through this new partnership together we will work with Formula One to develop premium local content for the Chinese market, in a way that the sport deeply engages with local fans and becomes part of the Chinese sporting culture and fabric. It's a very exciting time to be supporting Formula One."
The Chinese Grand Prix was first held on the F1 calendar in 2004, and since then, has been part of the World Championship. The event is scheduled to be on the 2018 calendar as the second race of the season, however, is subject to confirmation. Liberty Media expect the event to go ahead as originally planned.
"Our expectation and goal is to have a race. We're engaged with them. The reason is the contracts were up this year, so we're negotiating new agreements. Those agreements aren't completed," said Chase Carey when speaking at the FIA Sport Conference in June. "We're having good discussions and our expectation is to have it, but obviously we don't have a signed agreement, so it's just a reality of life with a lead time that still exists."
Chris Soulsby
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Posts: 362
Chinks just not really into Motorsport, they have no culture of it...but worth a try