Southeast Asia Gears Up for Explosive New F1 Race - Could Indonesia, Thailand, or South Korea Take the Lead?
As the Formula 1 calendar continues to expand, the motorsport world is buzzing with the possibility of a new race making its debut in Southeast Asia. According to Liberty Media CEO Greg Maffei, both Indonesia, Thailand, and South Korea have expressed a keen interest in hosting a Formula 1 race.
Expanding Horizons
Under the current Concorde Agreement, the F1 calendar can accommodate up to 25 rounds, and it looks like that final spot might be going to an Asian destination. Initially, there were murmurs about adding a fourth race in the United States, possibly in Chicago, but those plans appear to have been shelved. Instead, Liberty Media seems inclined to bring the action to other parts of the globe.
Why Asia?
Asia has become a hotbed for motorsport enthusiasts, and it’s no wonder why countries like Thailand, Indonesia, and South Korea are eager to make their mark on the F1 calendar. Last weekend, Thailand’s Prime Minister Srettha Thavisin was seen at Imola, fueling speculations that Bangkok might soon host a race on an all-new street circuit.
“We’re lucky that we were able to get a Chinese race this year after four years,” Maffei told Autosport. “It was very successful. The interest in China has exploded, partly because we now have a Chinese driver. And when you have drivers from a country, it does drive local interest significantly.”
Who Will Take the Flag?
Beyond just Thailand, Indonesia and South Korea are also in the mix. Each of these countries has compelling reasons to host a race. Thailand offers a burgeoning motorsport fanbase, South Korea has a history with F1 from its past events, and Indonesia has a rapidly growing middle class with a keen interest in international sports.
Liberty Media’s Strategic Vision
Maffei emphasized that the choice of race locations involves multiple factors, including fan base, logistical feasibility, and the ability to finance the expensive endeavor of hosting a Grand Prix. “We have really looked at the intersection of where our fans are, where they could be, who could run a great race, and who can frankly afford a race,” he said.
The Vegas Blueprint
Liberty Media’s success with the Las Vegas Grand Prix has provided valuable insights into what spectators want. The choice to be the race promoter themselves enabled F1 to understand fans better, shifting from a purely B2B model to a more consumer-oriented approach. The inaugural event in Las Vegas began with some hiccups, including a loose drain cover that damaged Carlos Sainz’s car during FP1. However, the race turned out to be enthralling, setting the stage for an even better spectacle this year.
“We’ve really changed the sport in many ways,” Maffei asserted. “One of them is this really was a B2B business where we really just dropped the product on the local promoter and they sold it. But more and more, between things like F1TV and the Las Vegas promotions, we understand the fans better. We’re a direct-to-consumer business and meeting their needs over time.”
The Road Ahead
Looking ahead to the 2024 Las Vegas GP, Maffei said, “I hope we can get a race nearly as good or even better. I hope we have no track failures early – that would be nice! I expect we will learn to optimize and do things more efficiently because in some cases we move so quickly. I really credit the team at LVGP and our partners in how quickly we moved to get that up. To get that race from zero in 15 months is amazing.”
It’s clear that Formula 1 is not just focused on adding races but is also meticulously planning to ensure each event is a spectacle, meeting both fan expectations and logistical requirements. While Asia eagerly waits to hear who will get the coveted slot, one thing is for sure: F1’s global reach is only set to grow, bringing high-octane excitement to new corners of the world.