Manchester City Trouble, ESPN's "Broke", and Could F1 Overtake NASCAR?
Could Manchester City face Premier League "Expulsion"? Have athlete's learned anything from ESPNs broke documentary? and will Formula 1 overtake NASCAR in the United States?
With the English Premier League season drawing to a close, how will the 115 Financial Fair Play (FFP) charges against Man City impact their legacy if found guilty? Some say they could face expulsion from the League.
We’ll look into that, also, I bring back ESPN’s “Broke” documentary to look at the current landscape of professional athlete finances, and I explore the growth of Formula 1 to see if it could overtake NASCAR in the U.S. any time soon.
Could Manchester City face Premier League Expulsion?
A former Premier League CEO believes that Manchester City could face "expulsion" from the Premier League if found guilty of breaching 115 Financial Fair Play (FFP) rules. The club was referred to an independent commission earlier this year following accusations by the Premier League of violations that took place between 2018 and 2019. The resolution of the case is expected "in the near future," according to Premier League chief Richard Masters.
Read the full story below.
Has Anything Changed Since ESPN "Broke"?
The ESPN 30 for 30 documentary "Broke" which hit our screens in 2012, offered a stark glimpse into the reality of professional athletes who lose their fortunes soon after their careers end. It served as a cautionary tale, illustrating how athletes—despite their immense wealth and fame - often find themselves in bad financial situations.
The documentary delved into the stories of athletes who went from riches to rags in a matter of years. It reveals a world where lavish spending, poor financial management, and a lack of guidance contribute to the alarming rate at which athletes go broke and how fame and fortune can be fleeting.
The documentary emphasized that many athletes are ill-prepared to manage vast sums of money and don’t consider long-term financial security, it also highlighted the pressures athletes face from friends, family, and social circles to maintain a certain lifestyle, leading them down a path of financial instability. This sudden influx of wealth can be overwhelming and, without proper financial education, leads to reckless spending and poor financial planning.
Despite its grim narrative, the aim of "Broke" was to raise awareness and encourage change within the sports industry. It suggests that the issue of athletes going broke is not just a personal failing but a systemic problem that requires better education, support, and guidance. The documentary highlights the need for financial advisors who specialize in helping athletes manage their money and stresses the importance of long-term financial planning.
I looked at the current state of affairs to see if things have changed in athlete culture with regard to managing money.
Check it out HERE.
Could F1 Overtake NASCAR in the United States?
The motorsport landscape in the United States has long been dominated by NASCAR, with its iconic oval tracks, high-speed races, and loyal fan base. However, in recent years, Formula 1 (F1) has captured the imagination of the American audience like never before.
With increasing interest, dramatic races, and significant marketing efforts since F1 was bought by the US-based Liberty Media in 2017, F1 is experiencing remarkable growth in the U.S.
It begs the question, could it eventually become more popular than NASCAR?
Let's explore the factors driving F1's rise and examine the prospects for its continued success.
Formula 1 has witnessed substantial growth in the United States over the past few years. The addition of new races, such as the Miami Grand Prix and the Las Vegas Grand Prix, has drawn significant attention, while the Circuit of The Americas in Austin, Texas, continues to be a popular venue.
One of the key drivers of the recent surge in popularity is the Netflix docuseries "Drive to Survive." The series, which offers a behind-the-scenes look at the drama and personalities within the F1 world, has attracted new fans who might not have otherwise engaged with the sport. By focusing on personal stories and rivalries, "Drive to Survive" has made F1 more relatable to American audiences.
In addition to both the show and additional race venues, there are several other factors that have contributed to Formula 1's growth in the U.S.
Innovative Marketing and Outreach
Formula 1 has pivoted and strategically marketed itself to American audiences. Partnerships with U.S. brands, celebrity endorsements, and active social media engagement have all played a role in boosting F1's visibility. The sport's commitment to sustainability and innovation has also resonated with younger viewers.
Cultural Appeal and Youth Engagement
Formula 1's international nature sets it apart from NASCAR's more regional focus. With drivers from various countries and races held in iconic global locations, F1 has a cosmopolitan appeal. Fans get to travel around the world to glamourous locations like Monaco and Dubai, whether in-person or through the TV and this is a highlight for many fans.
Additionally, the emphasis on cutting-edge technology, including hybrid engines and data-driven analysis, aligns with the interests of younger audiences. Many younger fans play racing games and have incredible knowledge of the circuits, the cars, and the overall teams and personnel.
Side note: I worked with a former World Champion for a few years and one thing that always amazed me was the technical knowledge of F1 fans who could remember the engines and tyre setups from races 20 and 30 years ago.
Formula 1 vs. NASCAR: The Current Landscape
NASCAR has been a staple of American motorsport for decades, with a dedicated fan base and a long-standing tradition. However, Formula 1's recent growth has sparked questions about whether it could eventually overtake NASCAR in popularity.
NASCAR's fan base is deeply rooted in the Southern U.S., where the sport's culture has developed over generations. This established following poses a challenge for Formula 1, which must break into these traditional markets to compete with NASCAR.
In contrast, the cosmopolitan feel of F1 could make it more popular in other cities like we’ve seen in Miami and Vegas, places like Los Angeles and New York for example.
Looking at the media side, NASCAR has long been a prominent feature on major U.S. networks, with significant sponsorship deals. However, Formula 1's partnership with ESPN and other media outlets has increased its visibility in recent years. As F1 continues to grow, it may attract more sponsorships and media attention, potentially challenging NASCAR's dominance.
While Formula 1's growth in the U.S. is impressive, surpassing NASCAR's popularity remains a complex challenge. To do so, F1 must continue to expand its presence in the U.S., attract a broader audience, and maintain its innovative appeal. The success of "Drive to Survive" and the addition of new races suggest that F1 is on the right track.
However, NASCAR's deep-rooted cultural significance and established fan base cannot be ignored. To overtake NASCAR, Formula 1 would need to sustain its momentum and find ways to connect with traditional NASCAR fans, offering them a compelling reason to embrace a new form of motorsport.
I’m sure that the people making decisions at NASCAR are looking at F1 and thinking of ways to grow themselves.
Here’s a look at where the attention lies.
TV Viewership in the U.S.: Formula 1 has seen a significant increase in TV viewership in the U.S. In 2022, the average audience per race crossed the 1 million mark for the first time, with ESPN setting a new record with 1.21 million viewers per race (Formulapedia). In 2023, Formula 1 races had an average U.S. TV audience of 1.11 million.
Audience Growth: Formula 1's audience growth in the U.S. continued in 2023, with the season-ending as the second most-watched ever on ESPN platforms. Viewership nearly doubled from 554,000 in 2018 to 1.11 million in 2023, with an average increase of 15% per year (Formulapedia).
Attendance at Races: The United States Grand Prix in Austin, Texas, experienced a surge in attendance, drawing 400,000 spectators in 2021. This number increased to 440,000 in 2022, (Formulapedia). 2023 saw 432,000.
Record Viewership for Events: The Miami Grand Prix in 2023 attracted an average of 2.583 million viewers, making it the most-watched live Formula 1 telecast ever in the U.S. Other races also saw record viewership, with 12 races in 2023 setting all-time event viewership records, including the Saudi Arabian Grand Prix with 1.445 million and the Bahrain Grand Prix with 1.353 million viewers (Formulapedia).
For context, NASCAR viewership in the U.S. has stagnated after a period of decline between 2015 and 2018. Last year’s average U.S. audience across the Cup Series was approximately 2.9 million viewers per race, a slight dip on 2022, but still significantly higher than the average US viewership for Formula 1 races at the moment.
These statistics highlight the growth of Formula 1 in the U.S. and provide a basis for discussing its potential to rival or surpass NASCAR in popularity. The rapid expansion of its digital footprint, coupled with increased TV viewership and attendance at races, suggests that Formula 1 is well-positioned to continue attracting U.S. audiences in the coming years.
While it may not surpass NASCAR in popularity anytime soon, the trajectory is promising. With strategic marketing, expanded race locations, and a focus on youth engagement, F1 has the potential to become the top dog in the American motorsport scene.
Thanks for reading, David Skilling.
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