Latest news with #StefanoDomenicali
Biz Bahrain
10 hours ago
- Automotive
- Biz Bahrain
Formula 1 and Allwyn to launch community award programme
Formula 1, together with leading multi-national lottery-led entertainment company and Official Partner Allwyn, will celebrate and spotlight community-focused initiatives around the world with the new F1® Allwyn Global Community Award. The brand-new programme, created as part of the two organisations' multi-year partnership and as part of their shared commitment to driving positive change, will celebrate local initiatives that leave a positive impact on society. The winners, who will receive a €100,000 donation along with a bespoke trophy and the chance to visit a Formula 1 Grand Prix, must address one or more of the following focus areas: empowerment and inclusion; education and opportunity; health and wellbeing, and sustainability and innovation. Ahead of each selected Grand Prix, the local promoter will identify community-focused initiatives supported by the F1 ecosystem that have had a meaningful impact, and a panel of judges from Formula 1, Allwyn, and a representative from the local race community will select a winner. This year, the first award will be presented at the FORMULA 1 HEINEKEN DUTCH GRAND PRIX 2025, taking place between 29 – 31 August, with subsequent winners awarded at the United States, Mexico, and Las Vegas Grands Prix. Stefano Domenicali, President & CEO of Formula 1, said: 'It is a pillar of our sport to leave a positive legacy where we race and for many years we've worked with the promoters and regional organisations to do just that, from inviting children from local schools to the track to encourage them to consider a role in motorsport, through to funding education initiatives and welcoming local community outlets and charities to be part of the event. Every year 24 incredible venues open their doors to host us, and we are met with fantastic passion and love at the track and throughout the entire city, so I am very proud to launch the F1 Allwyn Global Community Award as part of our mission. We will give the local initiatives that go the extra mile for making their communities and make the world a better place the recognition and global platform they deserve.' Robert Chvátal, Group CEO of Allwyn, said: 'Championing positive impact is at the heart of what we do at Allwyn. Our partnership with Formula 1 is the perfect chance to demonstrate our commitment to communities through the creation of this inspiring F1 Allwyn Global Community Award, supporting the very best community initiatives around the world and bringing them to a huge global audience.'
The Independent
4 days ago
- Automotive
- The Independent
The Asian country aiming to host its first-ever F1 race
Thailand 's cabinet has approved a $1.2 billion bid to host a Formula 1 race on the streets of Bangkok. The country aims to join the F1 schedule from 2028 with an initial five-year contract, following discussions between the Prime Minister and F1 CEO Stefano Domenicali. The bid prioritises a street track in the capital, despite Thailand already having an FIA Grade 1 circuit in Buriram. F1's current 24-race schedule presents a challenge for new additions, though some existing races are moving to a rotational basis from 2028. British-Thai driver Alex Albon has expressed strong support for Thailand's bid, which would make it the eighth Asian country on the F1 calendar.
The Independent
4 days ago
- Automotive
- The Independent
Thailand commits £880m to F1 bid with street circuit in Bangkok
Thailand 's cabinet has approved a $1.2billion (£880m) bid to host an F1 race on the streets of Bangkok. The target for the south-east Asian country is to be on the schedule from 2028, with an initial five-year contract in place. Tourism minister Sorawong Thienthong mentioned the figure at a press conference last week, with prime minister Paetongtarn Shinawatra having met with F1 CEO Stefano Domenicali earlier this year to discuss plans for a race in the Thai capital. Thailand does already have a FIA Grade 1 circuit in Buriram, about 300km north-east of Bangkok, but the allure of hosting a street track in the capital is said to be the driving factor behind the bid. However, with the 2026 schedule already set at 24 races – a number Domenicali has previously insisted he is not keen to go over – it remains to be seen where Thailand would slot into any future calendar and which race it would replace. The Dutch Grand Prix at Zandvoort falls off the calendar after next year's finale, while from 2028 Spa-Francorchamps will host a race once every two years under a new rotation policy. Imola, which dropped off after this year's race, and Barcelona are also hopeful of being included in a rotational deal. F1 is also keen to host a race in Africa, for the first time since 1993. South Africa – with Kyalami in Johannesburg and Cape Town the two listed bids – Rwanda and Morocco have all put broad proposals on the table. Meanwhile, Alex Albon, the British-Thai driver who races under the Thai flag, has also given his firm backing to the Thai bid, during a visit to the country a few months ago. 'It's moving along, obviously nothing's finalised but it's really good to see the commitment from Thailand,' Albon said. 'They're taking it very seriously. I think as a product, they have a very strong product. If you see the projects… if you see how serious they are. 'I've seen a generic look at what they're trying to do with it. And yeah, it looks good, I don't think I can say [much more]. So I'd rather stay quiet on it. Again, I don't want to say too much but I'm following a lot of interesting events.' F1 currently has seven Asian races on the calendar – China, Japan, Bahrain, Saudi Arabia, Singapore, Qatar and Abu Dhabi – with Thailand bidding to become the eighth, which would result in a third of the calendar being hosted in Asia.
Business Insider
20-06-2025
- Automotive
- Business Insider
F1 CEO says drivers are its 'protagonists' and drama is good for business
Formula 1 CEO Stefano Domenicali is on a mission to expand the company's global footprint and grow its US audience — and that means spotlighting the "protagonists" of the sport. "They are our jewel, our stars," Domenicali said about F1 drivers at a press roundtable on Monday. Unlike in sports like football or baseball, he says it can be a challenge to make F1 drivers "the face" of the sport when they're not as physically visible during races. With drivers shielded by cars and fully suited in helmets and gloves, it can be tough for fans to get to know the drivers behind the wheel, the CEO said. High-profile films like "F1: The Movie," starring Brad Pitt, or the Netflix docuseries "Formula 1: Drive to Survive," help generate buzz. The CEO also said that tension between drivers and clashes on and off the track can be good for business — and there's been no shortage of such. Races have resulted in many iconic moments, like the on-track collision in 2021 between Lewis Hamilton and Max Verstappen, which triggered an outburst from Mercedes team boss Toto Wolff. Domenicali joked that there's some truth behind the idea that "all press is good press." He said it's generally good when people have something to talk about. The CEO added that viewers are "attracted" to the "sporting drama" and casual fans may be especially interested in the lifestyle aspect of the races. As the company expands its global footprint and reaches more Americans, Domenicali said F1 needs to "cover a very wide portfolio" of viewers and understand the specific needs of each segment. That means using different narratives and languages to tell the story of the sport, Domenicali said. F1 has already proved successful in diversifying its fan base to some degree. The company's audience has grown to 41% female, compared to 37% in 2018, a spokesperson told BI. While "there are limits" to drama involved in the sport, the tension has added to its competitive nature, especially as F1 increasingly evolves into an entertainment brand. Domenicali said the company wants drivers to have different personalities rather than being "20 clones" of the same person. At the end of the day, F1 embodies much more than driving, he said. "If you want to drive, Uber driving can offer you a great opportunity to do a lot of driving," he said.
Newsweek
19-06-2025
- Automotive
- Newsweek
Thailand Plots Huge Economic Success With $1.2 Billion Bangkok F1 Race
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The Thai government has officially sanctioned a budget of $1.2 billion to host a Grand Prix in the capital city of Bangkok. With several Grand Prix venues reporting a significant economic impact through Formula One, Thailand is eager to host a street race. A 3.54-mile street circuit is being planned through the Chatuchak Park area, and the inaugural race is expected to take place in three years. A report by Autosport states that Thailand and F1 will enter into a five-year contract starting in 2028. The confirmation of a street race in Bangkok arrives months after F1 CEO Stefano Domenicali met with Thailand's Prime Minister Paetongtarn Shinawatra to discuss the ambitious plan. Considering the economic boom local economies experience through F1 races, the global demand for F1 is witnessing an upward trend. Oscar Piastri of Australia driving the (81) McLaren MCL39 Mercedes leads the field into turn one at the start during the F1 Grand Prix of Spain at Circuit de Barcelona-Catalunya on June 01, 2025 in... Oscar Piastri of Australia driving the (81) McLaren MCL39 Mercedes leads the field into turn one at the start during the F1 Grand Prix of Spain at Circuit de Barcelona-Catalunya on June 01, 2025 in Barcelona, Spain. MoreThe news of setting aside $1.2 billion for the event was announced by tourism minister Sorawong Thienthong in a press conference. Government spokesperson Jirayu Houngsub revealed his confidence in hosting an F1 race. He said: "In the next two-three years, Thailand will have world-class competition, which we never thought would happen in Thailand." While Thailand is gearing up to potentially have its first race in Bangkok, F1 announced a fresh contract extension for the Canadian GP yesterday, which secured its spot on the F1 calendar for the next ten years. The new four-year deal extended Montreal's validity on the calendar from 2031 to 2035. Newsweek Sports reported the comments of Stefano Domenicali. He said: "As Formula 1 celebrates its 75th anniversary, it is fitting that we have announced an extension with the Canadian Grand Prix, a race that has such incredible history in our sport and is named after a true legend in Gilles Villeneuve. "Montreal is an incredible city, full of energy and passionate fans, and I am delighted to confirm that we will continue racing here through to the 2035 season and that our media rights deal with Bell Media is also extending in the long term. "I would like to thank the promoter, Octane Racing Group, for their continued efforts in upgrading this iconic venue in recent years, and all local, regional, and national political stakeholders who have worked closely together to make this event what it is today. "I would also like to thank our incredible Canadian fans. I look forward to creating more unforgettable moments in Montréal with you over the next 10 years." The announcement of the new Canadian GP deal and the upcoming race in Bangkok highlight the high demand for F1. But with the sport operating at its limit with the current 24-race calendar, it has had to drop iconic circuits such as Imola from the 2026 calendar, while Barcelona's future for 2027 remains uncertain.
