As the 2024 season began, the driver market was very uncertain, mainly because Carlos Sainz was taking a long time to decide on his contract. After Sainz joined Williams, things started to settle, but Kevin Magnussen is unlikely to get an F1 seat next year. Haas, where Magnussen wanted to stay, chose new drivers, and other teams like Alpine and Sauber are not options for him. Magnussen might need to look into IndyCar or WEC for 2025.
Click here to read the full article by Jaden Diaz-Ndisang (lastwordonsports.com)
Zak Brown, CEO of McLaren, is advocating for the removal of voting rights from F1 teams in the new Concorde Agreement. The Concorde Agreement, which outlines the financial and regulatory frameworks of F1, is set to expire at the end of 2025, with a new agreement planned to begin in 2026. Currently, major rule changes require a vote from the F1 Commission, which includes all 10 teams, F1, and the FIA. Brown believes that eliminating team voting power could lead to more consistent and fair decision-making, as teams often have conflicting interests.
Click here to read the full article by Jake Nichol & Ian Parkes (racingnews365.com)
Red Bull Racing will try to make its Formula 1 car faster so both Sergio Perez and Max Verstappen can use it well. Technical director Pierre Wache said that updates will focus on helping both drivers by improving the car’s performance and balance. Perez has had trouble with the car, but Red Bull hopes these changes will help him improve. Wache mentioned that finding the right balance is tricky, but the team is working on it.
Click here to read the full article by Filip Cleeren & Ronald Vording (motorsport.com)
Global media and commercial interest are pushing Formula One to new financial heights, with F1's total revenue reaching $871 million, up from $724 million the previous year. This increase includes $888 million from F1 operations and additional corporate revenue of $141 million. Profit from F1 grew to $84 million, which contributed to a total F1 Group profit of $59 million, up from $52 million. The revenue rise is attributed to more races this year and new sponsorship deals despite relatively flat race promotions revenue.
Click here to read the full article by Ted Orme-Claye (insidersport.com)
Scott Mansell met the students who built the Formula Student car at Oxford Brookes University and was amazed. Although these student-built cars might look like go-karts with wings, they are fast, very advanced, and weigh only about 245 kilograms. There's no doubt that these students build cars that, in some ways, are more innovative than F1.
