“Five To Ten Years” For US To Become A Meaningful Formula 1 Market, Says CEO Carey
February 25, 2020
F1 CEO Chase Carey has said that it will take at least ‘Five to ten years’ for Formula 1 to become a meaningful market within the United States.
He also admitted there had been some frustration at the difficulty trying to bring a second F1 race to America with constant difficulties in attempting to secure a Miami Grand Prix.
“We knew the US was going to take time. On one level, yes, it is clearly taking longer than we would have hoped. I think it’s frustrating on one level because we’ve spent as much time and there seems to be always some degree of ongoing complexity,” Carey told Autosport.
“I think the reality is that the US for us, to really build it, it’s a five-year-plus timeframe. We said all along the US isn’t going to change our world in two to three years. The goal is really in five to ten years from now, the US becomes a meaningful market for us. In that context, 12 months it isn’t that big a deal, but that doesn’t mean it’s not frustrating as you continue to go through it.”
“I know the Penskes, I’ve had contact with the Penskes, I knew them before they bought Indianapolis. But again I probably wouldn’t comment on conversations. I’m aware of the interest,” Carey added, speaking about the possibility of attempting to move to Roger Penske’s recently acquired Indianapolis Motor Speedway instead of Miami.
“It’s obviously an iconic track for world racing. It’s part of the Triple Crown: Monaco, Le Mans and Indy. So it speaks to what that track means. It’s a special track for the motorsports world.”