Present in Formula 1 for nearly forty years, Flavio Briatore believes that the biggest revolution is not technical. According to him, it is the image and commercial value of the championship that have completely changed.
Read more The surprising idea of Esteban Ocon to bring F1 back to France
Flavio Briatore is one of the few personalities to have experienced several great eras of Formula 1. Arriving in the paddock in the late 1980s, the Italian led Benetton to world titles with Michael Schumacher, then Renault to the championships of Fernando Alonso, before returning today as Alpine’s executive advisor.
In nearly four decades, he has seen the sport evolve deeply. But, in his eyes, the most spectacular change concerns neither the cars nor the technology.
A Formula 1 that has become a global reference
For Briatore, Formula 1 has never been as attractive as it is today.
“It has changed enormously, especially on the commercial side.”
The Italian executive also highlights the progress made by circuit infrastructures, citing the example of the recently modernized Hungaroring.
“All circuits are better today. Budapest is, in my opinion, the best paddock in the championship currently. The work done is incredible.”
But what impresses him the most is the image that the sport now projects.
“The perception of Formula 1 has completely changed. Today, it is the place where everyone wants to be.”
According to him, this evolution is also reflected in the arrival of new commercial partners.
“The sponsors supporting the teams are evolving too. All this shows how attractive Formula 1 has become.”
Full stands everywhere in the world
Another major difference with previous decades: the enthusiasm of the public.
Where some days attracted few spectators fifteen years ago, circuits now sell out well before Sunday.
“Today, every Grand Prix breaks attendance records.”
Briatore recalls that in the past, the stands were far from full as early as Friday.
“Fifteen years ago, the stands were not full on Friday. On Thursday, there was practically no one.”
Read more Fernando Alonso convinced that Aston Martin will eventually build a winning car
At Silverstone, he even cites the example of several tens of thousands of spectators present as early as Thursday, proof of the immense current popularity of the sport.
A younger audience and the United States as support
The former head of Benetton and Renault attributes a large part of this transformation to Liberty Media, owner of Formula 1 since 2017.
According to him, the communication strategy carried out in recent years has profoundly renewed the profile of supporters.
“The average age of fans has dropped significantly, and that is excellent news.”
The rise of the American market also constitutes a major turning point.
“Before, the United States practically did not exist for Formula 1. We wanted to race there for free and no one was interested.”
Today, the situation is completely different thanks to the new commercial strategy of the championship.
“Liberty Media has completely transformed communication and the commercial aspect. Formula 1 is now a company in excellent health.”
Teams now valued in billions
To measure this evolution, Briatore relies on a particularly revealing figure: the value of the teams.
When Benetton was sold to Renault in 2000, the operation represented about 120 million euros, an amount already considered considerable at the time.
Twenty-five years later, the figures have completely changed scale.
“At the time, a team was worth about 100 million euros. Today, we are talking about a billion, or even more for some structures.”
The Italian executive sums up the evolution of the sport in one sentence.
“We have gone from millions to billions in a very short time. It is probably the biggest change that Formula 1 has ever known.”
While the premier category has evolved enormously technically, Flavio Briatore therefore believes that its true revolution is above all economic and media-related. Formula 1 has never attracted so many spectators, sponsors, and investors. An evolution that, according to him, makes the sport today “the place where everyone wants to be.”
Read more What is the cause of the brake fires that continue to plague Cadillac?