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merchandising sales. These values are
proportional to the value generated by the
sum of the single teams' budget. Bottom
line, if we multiply the sum of the teams'
sponsorships by two, we can have a pretty
realistic representation».
We're asking your opinion about
another hot topic. Do you think there
will be any space for small
manufacturers in the future, or there
will only be topmanufacturers
around?
«The future will always depend on the
contest and the market. Le Mans is an
unique race, and its commercial outcome
reverberates throughout the whole year. It
justifies the long-term commitment of
some major car manufacturers like
Porsche, Audi, Peugeot, Toyota and
Mercedes.
At the top of the pyramid (in F.1 and
Nascar) only the large manufacturers can
turn their entries into a profit because
they can win on Sunday, and sell on
Monday. In Nascar, the manufacturers
assumed the control of the teams, directly
or indirectly, and secured their loyalty
with long-term contracts. Wind tunnels,
simulators, engine and transmission
dynos are necessary to compete at the
highest levels. They all require huge
investments and frequent technology
upgrades. And for this reasons, they
become inaccessible to the regular
independent teams. In terms of the classic
"access to the market" scheme, these are
actually true barriers to entry and exit.
The teams are required to provide
specialized personnel but not the capital
itself, so they are not entitled with the
biggest share of the profits coming from
such risky investments. The specialized
personnel includes the mechanics, the
engineers and all the professionals
bringing a specific know-how.
Unfortunately, the more the specialization
level grows, the more replaceable the staff
becomes, because their knowledge ages
pretty fast. As a consequence, it's difficult
to find people with decades of experience
in racing so the same technical, strategic
and relationship mistakes tend to be
repeated».
Who are themen that so far did the
best job in exploiting the economic
potential of racing?
«In terms of personal business, I would
say Sir Jackie Stewart and evenmore than
him Bernie Ecclestone. In terms of the
corporate business, Ferrari did it perfectly.
Also thanks to their passion and to the
participation to the Formula 1
championship, they are able to sell
thousand of road cars per year at a more
than adequate price. In a more general
context, it's really interesting to asses the
dynamics of Red Bull, as they take part in
many initiatives, from powerboat racing
to aerobatic flight, from the space
endeavours to motor racing. I can't tell if
Red Bull can have an economic return
from all of that, but I hope to see their
presence will remain stable through the
coming years. Without Red Bull, we
wouldn't have Formula 1 as we know it
now».
The start of St. Petersburg race
