Lopez: F1 has ‘archaic management’

Lotus team principal Gerard Lopez says Formula One has “archaic management and organisation” which could be preventing sponsors from investing in the sport.

The end of 2014 saw Lotus, Force India and Sauber voice their collective dissent at the distribution of funds in F1 following the collapse of both Caterham and Marussia. With television audiences dropping, Lopez says there is a lot of potential in the sport in its current form but says it is not being marketed properly and believes the way the sport is run commercially is causing sponsors to stay away.

“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.

“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 dollars 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…”

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