- Lotus
F1 has 'archaic management', says Lotus boss
Lotus boss Gerard Lopez has slammed Formula One's "archaic management" and blamed it for failing to market the sport effectively.
Lopez took a lead role at the second half of 2014 in complaining about the sport's unequal revenue distribution, as Lotus, Force India and Sauber threatened to boycott the United States Grand Prix following the collapse of Caterham and Marussia. TV audiences have been gradually falling for several years and even the likes of McLaren are struggling to find a title sponsor.
Though F1 has taken tentative steps into the world of social media over the past few months Lopez wants to see the sport do more to engage a new, younger audience, which would in turn improve its ability to attract new sponsors.
"Formula One TV ratings are declining steeply whereas the show on track is exceptional, albeit still improvable," Lopez told AutoHebdo. "The sport must reach out to the younger fans, namely engage them not only through TV but also and above all via the Internet and social media.
"What's more, F1 does not have any genuine marketing department, which means there exists a significant untapped potential for commercial opportunities. According to the experts I meet regularly and who invest in other sports, Formula One remains the only activity offering a global platform likely to attract world companies. And yet, there seems to be some sort of blockage."
Lopez is under no illusions about where blame should lie for this failure.
"Why do these potential sponsors never make the leap when they are not really undaunted by the amounts requested in F1. What's holding them back? Is it because of the sport's archaic management and organisation? While around $900 million are redistributed to the teams every year, the system keeps giving too much to the haves and too little to the have-nots.
"The gap is constantly growing, which in turn tarnish the overall image of F1. Therefore, potential sponsors tend to show wariness when it comes to invest in the sport. All this could be fixed pretty easily but unfortunately none of the [other] teams shares the same vision, nor the same agenda."
© ESPN Sports Media Ltd.
