Stefano Domenicali declares Formula 1 the pinnacle of global entertainment, predicting its continued dominance in sport and culture for decades to come.
Domenicali takes pride in what Formula 1 has become in the Liberty Media era since its acquisition by the American company. The CEO of the premier motorsport category is convinced of the way it has evolved into an entertainment entity far beyond the action on the track.
“If you look back, not 30 years, but just five years in Formula 1, it feels like we’re in a completely different era, so in that regard, I can’t predict what it will look like,” he said. “Let me say something that might seem a bit bold…”
“F1 will remain a key part of people’s lives in 30 years because all the ingredients are there—the connection with people, the combination of sport, business, and entertainment.”
Liberty Media continues to lead Formula 1 despite rumors of a potential acquisition by Saudi Arabia’s Public Investment Fund (PIF). However, Greg Maffei, Liberty Media’s outgoing CEO, hasn’t ruled out a future sale, promising to act in the best interests of the group’s health.
For Domenicali, such developments won’t affect Formula 1’s trajectory, as he sees it maintaining a pivotal role in the sports world long-term: “Ultimately, today I can say that F1 is the world’s greatest sporting entertainment, and it will certainly remain so in 30 years.”
Greg Maffei highlighted the positive impact of Liberty Media’s strategy since the acquisition: “I think F1 is incredibly well-positioned. It’s probably the company I’m most proud to have been involved with because we really…”
“Liberty bought it, reshaped the strategy, brought in Chase Carey, who did an extraordinary job. Stefano Domenicali has done great work. But the company is very well positioned, isn’t it?”
“You know, we have developed global partnerships since 2019. We have increased sponsorship by 16%. We have raised all revenue streams by something like 12%.”
“This really embodies what the sport aims to be, you know—boosting fan interest through things like Drive to Survive, increasing sponsorship, and enhancing premium experiences. It’s essentially a model everyone is trying to replicate. Everyone involved has done an excellent job.”
Although not entirely ruling out a sale of F1, Maffei remains confident that Liberty will retain ownership: “I don’t think there are any plans to sell it. It has a great future, but, you know, I think Liberty’s board will be a good steward of shareholder capital.”
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Domenicali: F1’s Unstoppable Reign in Global Entertainment Domenicali: F1’s Unstoppable Reign in Global Entertainment
