Kim Hobson’s Post

Rumors are circulating about a potential Formula One race in Chicago come 2026. While official confirmations are pending, the buzz is undeniable. Stay tuned as we might witness F1 cars zooming through the Windy City’s streets in a few years! For a detailed look at the swirling rumors and what this could mean for Chicago, check out the latest article from Sports Illustrated1. @Formula1, @SportsIllustrated, and all racing enthusiasts, what are your thoughts on this? Could Chicago be the next big destination for F1 races? #Formula1 #ChicagoGrandPrix #Motorsports #Racing

Everyone wants a piece of Formula One.  F1 Remains Hot With a $10B Offer and Dozens of Interested New Race Hosts Before Red Bull, Max Verstappen, and tens of thousands of racing fans begin to take over South Florida for this weekend’s Miami Grand Prix, one thing is clear: Dolphins owner Stephen Ross, who also owns the Miami F1 race and the venue that hosts it, Hard Rock Stadium, is said to have recently entertained a $10 billion offer for control of those sporting assets, according to USA Today. Ross declined the offer, per the report. It’s unclear what the individual values of the Dolphins, Miami GP, and Hard Rock Stadium would have been in that deal. (https://lnkd.in/e8_v9CtE) Miami Dolphins owner Stephen Ross and CEO Tom Garfinkel will host their 3rd Formula One Miami Grand Prix, knowing their courageous venture into one of the world’s fastest growing sports has elevated their NFL business. Ross recently entertained a stunning $10 billion offer for control of the Dolphins, Hard Rock Stadium, and the F1 Miami race – which nearly matches the combined record-setting sales of the Denver Broncos ($4.65 billion in 2022) and Washington Commanders ($6.05 billion in 2023) – two people with direct knowledge of the situation told USA TODAY Sports. They spoke on the condition of anonymity due to the sensitive nature of the matter. Ross declined the offer because he wants to keep the assets in his family, the two people said. Still, the offer shows the ceiling of NFL franchise valuations and sports conglomerates continues to rise exponentially. Meanwhile, F1 CEO Stefano Domenicali said that, despite the sport already reaching its maximum of 24 races per year, more than 35 new venues have shown interest in hosting a race, with 11 being formidable contenders. “Seriously, the request is very, very big,” Domenicali told ESPN. Those markets might include U.S. cities Chicago and New York, as well as international destinations like South Korea, Thailand, China, South Africa, Rwanda, Malaysia, and India, per ESPN. Domenicali said not to expect a fourth race in the U.S., in addition to Miami, Austin, and Las Vegas. The widespread interest in F1 comes after the sport saw total race attendance spike to 6 million in 2023, and revenue soared to $3.22 billion, according to owner Liberty Media. Last year also marked the debut of the Las Vegas Grand Prix, as F1 grew to its capped-out 24-race schedule. The Miami race is entering its third year, while F1 has raced in Austin since ’12. #miami #southflorida #F1 #premiumfinance #lifeinsurance #sportsbusiness #premiumfunding #privateinvestments

A lot has been made of the fact that next weekend's Formula 1 British GP at Silverstone is not yet sold out, with the circuit coming under pretty intense scrutiny for its ticket prices in particular. But is this fair? Looking at how ticket prices have changed over the past ten years - in 2014 three-day general admission tickets started at £170, compared to £349 this year. Perhaps more relevantly, the same ticket type sat at £279 as recently as 2022. Where grandstand tickets are concerned, the cheapest three-day ticket still available for this year's race is £549, whereas in 2022 you could get yourself a seat for the weekend for as little as £330 - less than this year's general admission. The British GP is, aside from Monaco, the most expensive European race for fans to attend. Despite this, it can point to the fact that it is the best attended race on the F1 calendar. Last year, a quite remarkable 480,000 fans turned up over the course of the weekend, a significant increase on the 401,000 the year before. So, can Silverstone claim that the price rises are simply in response to higher demand? Perhaps, but this is not necessarily what they are saying. Instead, they have laid the blame for slow ticket sales at the fact that Max Verstappen's dominance is turning fans away. For me, the timing of this argument is a little misguided, given that the last few races have been some of the most competitive since 2022 and we have a chance of an all-British podium next Sunday. Also, last weekend's Spanish GP showed no signs of being harmed by the Verstappen effect, setting a new record for the circuit with over 288,000 fans in attendance. Is the price increase for this year's British GP justified with the higher demand? Or is F1 taking advantage of its increasing popularity by pricing out fans that keep the sport alive? #f1 #formula1 #britishgp #silverstone #sportsbiz

Are Formula One Fans Being Ripped Off? An online post today caught my attention. The event organizers of the British Formula One Grand Prix to be held at Silverstone in the UK on July 7th have stated that they are struggling to sell tickets for this years event, and they believe it is because of the #redbullracing dominance this season. Well let's debunk that myth that people don't want to watch Red Bull win again. 1. Ticket Prices. The picture below is a ticket to this years British Formula One Grand Prix for a family of 4 to attend for 3 days. Thats right, nearly three and a half thousand quid for a Mum, Dad and two little ones to go along to watch racing cars race around a track. Couldn't be the price of admission that are stopping people from buying tickets could it? 2. Competitive Racing. Unlike last season when we did witness a Red Bull domination, in the last few races of this season we have in fact seen 4 different drivers from 4 different teams win races. This close racing is exactly what fans want to see, and therefore his surely could not be the reason for people not buying tickets to the British F1 GP. Formula One has for a long time been perceived to be a sport for the wealthy, both to participate in, as well as to watch live. What we are seeing these days is the impact of Liberty Media's impact on managing the sport, the tremendous growth that it is experiencing across the world, and their ability to charge what fans will pay. In the other races in this year to date the Grandstands have been full and this seemingly isolated situation in the UK must be more aligned to the entry level prices charged by the organizer. Oh, while I am here, I will point out to the man who purchased this ticket, you could drop the kids off at the Grandparents for that weekend, fly yourself and the wife to NZ, and watch the All Blacks thump England in rugby for the same price. #formula1 #sportstickets #marketconditions #events

For those sports investors who take the myopic view that only "Stick'n'Ball" sports matter, you might note that extrapolating from the figures in this article yields a valuation for MotoGP of over $10B.

Fans to become Moto GP sponsors 🏁 At the weekend, MotoGP™'s Gresini Racing (currently home to the Marquez brothers) launched a new world-first fan powered sponsorship program. Fans can purchase their own "micro-sponsorship package", with an entry point of $125. 👉 What does this mean? Fans can access exclusive benefits normally reserved for celebs or million dollar sponsors— VIP Paddock Experiences, name placement on the bikes, Zoom calls with team members, signed merch etc. Different tiers of sponsorship deliver different benefits, and fans are also entered into competitions to win prizes like a race-ready Ducati Panigale V4S(!)🏍️ 👉Why is this development interesting? With fans getting a bit sick of seeing celebrities in the paddock (see this post for context : https://lnkd.in/garCR_KF) and complaining about opportunities not being given to them, motorsport teams across series should take note. If you want to drive fan love and build loyal communities, bringing fans closer to the riders they love is a great strategy. Press release here: https://lnkd.in/gMRNwPvj #Motorsportmarketing #MotoGP #GresiniRacing #MarcMarquez #Fanexperiences #F1

It’s affectionately called “The Great American Motorcycle Race,” but this year, the Daytona 200 should more accurately be referred to as “The Great Global Motorcycle Race.” For the 82nd running of the Daytona 200, which takes place March 7-9 at Daytona International Speedway, a full 28 riders – nearly half of the 67 riders on the entry list – are from countries outside the US including Australia, Brazil, Canada, Colombia, Czech Republic, Germany, Guyana, Mexico, Portugal, Spain, Switzerland, and United Kingdom. In addition, three MotoAmerica championship classes, Mission Foods King Of The Baggers, BellissiMoto Twins Cup and Mission Super Hooligan National Championship, will also be in action on the high banks for what will be the start of their championship seasons. The classes represent a total of 143 rider entries. The Daytona 200 and MotoAmerica classes will broadcast across an impressive collection of channels including MAVTV, FOX Sports, MotoAmerica Live+ Streaming, MTRSPT1, MotoAmericaTV and ESPN Latin America via Star+. Season starts in ten days! #motoamerica #motorsports #motorsport #racing #motorcycles #motorcycleracing #powersports #competition #athleticism #sports #livestreaming #sponsorship #Daytona200 #missionkingofthebaggers #kingofthebaggers #daytonainternationalspeedway #ESPNLATAM #Star+

So here we are, race week for a Grand Prix that could legitimately claim to be the most highly anticipated in history. The Las Vegas GP represents Formula 1's biggest bet on the US to date. Fuelled by the growth in interest in the sport over the last few years, they have taken on promotion of a race for the first time, which has brought with it some significant challenges. Costs of over $500m, including a $240m purchase of land for the pit garages, team areas and hospitality, have been higher than forecast, whilst the logistical challenges of hosting a prime time Saturday night race in the "entertainment capital of the world" have been complex to say the least. Whilst some may consider the event to be a big risk, the rewards could also be huge. It's being predicted that having the F1 circus in town will bring $1.2bn to the Las Vegas economy, a pretty astounding number. Whether that continues over the race's expected ten year stay in the Sin City remains to be seen. https://bit.ly/3QTdyho #f1 #formula1 #racing #lasvegasgp #sportsbiz

Have you just discovered the delights of F1? Switched TV services and want to know where and how to legally watch Formula 1 in the UK? You’re not alone!  Recent changes in F1 rules and how races are run has resulted in more exciting racing than we have seen in decades. We are seeing old fans returning to the sport and an influx of new fans, all wanting their F1 fix. So where can you watch it? #WheretowatchFormula1

Liberty Media and Formula 1 have now 12 positive and strong 3 month periods in a row 🙌 The Q2 2024 is no exception. Let's look at the Q2 results since Liberty Media acquired Formula 1 in 2017. 👉 The number of races is 8, highest number of races in Q2 so far. 👉 Operating income in Q2 2024 is $84 million, the highest Q2 result so far 👉 Total revenue in Q2 2024 is $871 million, the highest in Q2 sor far