67
THE DYNAMIC ECOSYSTEMS OF MAJOR SPORTS
created the equivalent of 3,650 full-time jobs and yielded nearly 195,000 ad-
ditional visitor nights.
43
The affiliated businesses of the Formula One ecosystem are legion. After all, in
the words of one long time F1 observer, “F1’s intoxicating mix of speed, tech-
nology, danger, handsome young sportsmen and jet-set lifestyles has proved
alluring for businesses” from across the economic spectrum.
44
Moreover, F1 is
one of the most watched events in the world week after week, and the one that
most consistently hits an unusual, and unusually desirable, demographic. A
survey conducted by FIA in 2006 found that 91 per cent of F1 fans were male,
26 per cent were in well-paying managerial jobs, and 53 per cent fell into the
highly attractive but difficult to reach 16-34 age bracket.
45
With this glittering market segment in their eyes, commercial backers spent
more than $720 million on F1 last year, with the average deal being worth
about $4.1 million, according to Formula Money. These figures are never-
theless down from 2009 by some $100 million, and average sponsorship
revenues per team have fallen nearly 30 per cent to about $60 million.
46
Moreover, over 30 of the largest sponsors – including Total, Shell, Santander,
Diageo, Puma, LG, SAP, and Vodafone –have formed an alliance in search of a
stronger bargaining position and a better deal from Ecclestone’s managerial
crew.
47
Many of these same companies that sponsor teams and display track-
side advertising also target the leading celebrity drivers for endorsements.
So too do manufacturers whose products have little if anything to do with
racing. Among Michael Schumacher’s endorsements in 2007 were Navyboot
designer footwear and Rosbacher mineral waters. Fernando Alonso endorsed
TAG Heuer watches and Uribes Madero wine.
© MONITOR QUEST LTD. 2011
GUARDING THE GAME Preserving the Integrity of Sport
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