“The supremacy of Max Verstappen in Formula 1, coupled with his understated lifestyle, has ignited discussions regarding their influence on the sport’s expansion and fan engagement.”
In a recent analysis, Max Verstappen has been labelled “the biggest risk” to Formula 1’s business model. Despite his impressive track record, his low-profile lifestyle and overwhelming dominance in recent seasons have raised concerns about their impact on the sport’s appeal.
Key Takeaways:
• Verstappen’s Dominance Questioned: A leading research analyst has expressed concerns about Max
Verstappen’s impact on Formula 1, describing him as a significant risk to the sport’s business due to his recent domination
and lack of public visibility.
• Lifestyle and Impact on F1’s Appeal: Unlike many World Champions, Verstappen shuns the limelight,
preferring a quiet life in Monaco. His focus on racing and disinterest in fame, as he expressed to TIME magazine, contrasts
with the expectations of many fans.
• Financial Implications and Future Predictions: Despite Verstappen’s dominance, Formula 1 has seen
substantial revenue growth. However, there are fears that his continued success could hinder the sport’s expansion, as
noted by Barton Crockett, a senior research analyst.
Max Verstappen stands out not just for his exceptional skill on the track but also for his unique approach to fame and publicity. Unlike many of his predecessors and peers, Verstappen has consistently shied away from the spotlight. His preference for a quiet life in Monaco, focusing on family and sim racing, is a stark contrast to the glamorous lifestyle often associated with World Champions.
In an interview with TIME magazine, Verstappen’s disinterest in mingling with celebrities and his singular focus on racing were evident.
“I have no desire to be able to hang out with famous movie stars.
“I watch other sports, but there’s nothing really that I’m really passionate about.”
This approach, however, has led to concerns about its impact on Formula 1’s broader appeal. Verstappen’s girlfriend, Kelly Piquet, has even noted the need to remind him to take breaks from his racing focus.
“There have been times where I’ve been like, ‘OK, time to switch off,’” Piquet admitted. “You have to give a gentle reminder that the sun is shining outside and, you know, there are other things to do.”
His dominance on the track, winning 17 out of 20 races this year, has coincided with a reported decline in viewership, raising questions about the sustainability of such a one-sided competition despite F1’s push for a more even grid.
Barton Crockett, a senior research analyst for Rosenblatt Securities, has been closely monitoring the impact of Verstappen’s dominance on Formula 1’s business prospects. Crockett, who specialises in covering Liberty Media, the parent company of Formula 1, brings a unique perspective to the table.
His research delves into the intricate balance between a sport’s competitive nature and its commercial success. Crockett’s insights are particularly valuable in understanding the potential long-term effects of Verstappen’s current reign in Formula 1.
“As great as Verstappen is, right now he looks like the biggest risk to the business,” he admits.
Despite these concerns, Formula 1 has not seen a significant downturn in its financial success. The sport generated $2.57 billion in revenue last year, a 44% increase since 2017. Moreover, upcoming events like the Las Vegas Grand Prix are expected to draw large crowds and potentially surpass the economic impact of major events like the Super Bowl.
