LONDON, England – US-based Liberty Media, current owner of Formula 1 rights, is reported by Red Bull team boss Christian Horner as perhaps underestimating what’s involved.
He was also scathing about technical changes he deemed as expensive but doing little. The current agreements between teams, rights-holders, and the governing body will expire at the end of 2020.
Liberty, which took over F1’s stop/go pedals in 2017, wants closer racing / easier overtaking – perhaps through a budget ceiling – and more equal revenue distribution.
Weathly teams, Reuters reports, are expected to push back to keep their historic privileges. Horner suggested: ”They (Liberty) probably thought there was some very low hanging fruit but it’s proved an awful lot harder than they perhaps thought.
“You can window-dress and promote a movie but if the movie has no substance people won’t watch it.”
Promoters representing most racetracks on the annual circus have also ”voiced concern” about Liberty’s handling of the sport.
Horner said former commercial supremo Bernie Ecclestone, who ran the sport for decades with an iron fist until 2017, would have had a firmer response to that. “Liberty are operating, trying to operate, in a democratically. Bernie (Ecclestone, the tough-talking previous rights’ owner) ran a really tight and hard ship. If you didn’t like it, the track wouldn’t have a race.”