Power Moves Behind the Curtain

FIA Drama, Miami's Billion-Dollar Bet & A Sustainable Fuel Crisis

Welcome to Business of Speed.

In case you missed it:

• 💬 When Ads Disappear

• 💰 How LEGO Made F1 Feel Human

• 📺 Netflix Eyes F1 Rights

• ✨ Las Vegas New Pricing Strategy

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Hi Speed Readers,

This week’s Business of Speed delivers a front-row seat to the political, commercial, and technical shakeups shaping the sport behind the spectacle.

Here’s what I’m watching:

🚦 Formula 1's Financial Momentum in Q1 2025

Despite hosting one fewer race than Q1 2024, Formula 1 reported $403 million in revenue for the first quarter of 2025. This 27% year-over-year decrease is attributed to the calendar variance, with two races held this quarter versus three in the same period last year.

Key developments include:

• Finalization of the 2026 Concorde Agreement, ensuring financial stability and team commitment.

• New partnerships with Barilla and PwC, expanding F1's commercial portfolio.

• F1TV subscriptions are up 4%, with the US leading the way with a 20% increase.

As the season progresses, with more races scheduled in upcoming quarters, F1 is poised for revenue growth, reinforcing its position as a global sports leader.

🚨 The FIA's Surprise Plot Twist

FIA President Mohammed Ben Sulayem has reappointed Shaila-Ann Rao—a figure once ousted after a fiery public fallout—as presidential advisor. It’s a puzzling move on the surface, but scratch deeper; it looks like a political chess play in an election year. Rao’s return neutralizes a legal threat (she had accused Ben Sulayem of sexism and bullying), helps polish his image, and arms him with legal muscle ahead of a critical vote in Macau this June.