Formula 1 planning for two new races in 2021

Formula 1

Formula 1 planning for two new races in 2021

Five circuits also in talks over contract renewals

Ian Parkes

Sunday 10 May 2020 18:25

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Chase Carey is in talks to add two new races to the Formula 1 calendar for 2021.

At present, F1 CEO Carey is currently attempting to negotiate the most challenging period in owner Liberty Media's short reign since taking up the helm from Bernie Ecclestone over three years ago.

Yet in the background, Carey has confirmed early plans for what he hopes will be a calmer 2021 compared to the turbulence currently being experienced as a result of the COVID-19 pandemic.

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"The long-term impact, whether it be for promoters or sponsors, we're planning to be business as we planned it for 2021. That's our expectation," said Carey in a recent investor conference call after announcing Liberty's first-quarter results.

"We expect 2021 to look like the 2021 we planned back in January. Ultimately we have renewals to put in place and some ongoing discussions with a couple of potential new races that we think would be a positive enhancement to the business for fans and shareholders.

"If we planned on 22 races - and again, we don't have a magic number - then we'd still be planning on 22 races."

A race around Miami's Hard Rock Stadium is in the pipeline but that is not now expected to come on board until 2022.

As for the renewals, five events are in discussions over a new contract - China, Spain, Monaco, Austria and Brazil.

The races in Monaco and Austria are not expected to cause Carey too much of a headache.

In planning for the opening European rounds of this year's championship to be without fans, starting in Austria in early July, Carey recognises the impact from a visual point of view for broadcasters.

Yet the 66-year-old American, also aware of the contractual obligations with those broadcasters when it comes to the number of races - which is understood to be a minimum of 15 to ensure payments are made - is confident there will still be a spectacle.

"Racing without fans has a much more significant impact on the broadcaster side than on the promoter and sponsorship side," added Carey.

"We've talked about these being week-long spectacles, multi-day events, the city involved, the track involved. Without fans at any of that, it's clearly a very different opportunity, a very different event, and we recognise that.

"These are unprecedented situations. With the broadcasters and sponsors, they do look at it as a season as a whole.

"There are contracts that have provisions tied to a number of races that is below what we have, so we have some room there.

"But we feel we can deliver a quality event for those. We can make it a great event but live fans won't be there, so the impact is going to be more significant on the promoter side."

Before you go...

'Excellent' chance that Miami will feature in 2022

Liberty Media: The 'remote possibility of no racing' remains