World Formula One Championships

Paper Summary:

This paper examines why Formula One racing has not succeeded in the US and examines the effects that it has on the attempts by global advertisers and FISA to create a truly global sponsorship platform. The paper makes the case that Formula One racing will not be successful in the United States in the future, despite the successful globalization efforts of many of its sponsors. It also demonstrates that F1's failure to capture the US imagination will result in a gradual decline in the importance of the sport to global commercial sponsors (although not for global governmental partners).

Outline:
Introduction
Media Growth through Sports
Interest of the Multinationals
Subject Population and Statistical Analysis
Coming to the United States
Benefits for the Participants
Recent Problems with the US
Conclusion: Making Formula One Relevant for the US Market

From the Paper:

"Coming to the United States: Benefits for the Participants
The rewards of extending Formula One1 to the US are clear. Although comprising only 5% of the world population, the US accounts for 30% of global GNP (Julius 2005) . Many of the world's largest and most-successful multinationals are headquartered in the US. And the US is the largest car market in the world (Roberts 2006). The potential for sponsorship should exist both inside and outside the US' borders: from multinational companies already sponsoring F1 teams that wish to extend their marketing reach in the sport to the US, to companies (like AT&T) that are headquartered in the US that would like to extend their brand recognition in an effective way to the rest of the world."

Sample of Sources Used:

• Dewhirst, T and Hunter, A. "Tobacco sponsorship of Formula One and CART auto racing: tobacco brand exposure and enhanced symbolic imagery through co-sponsors' third party advertising." Tobacco Control, 2002: 146-150.
• Eason, Henry. "The unstated message of the 1984 Olympics; the Los Angeles games will show U.S. private enterprise at work." Nation's Business, March 1984: n.p.
• Economist. "The Murdoch Factor." The Economist, November 23, 2006: n.p.
• Henry, Allan. "Philip Morris extends deal with Ferrari despite tobacco ban." Manchester Guardian, September 5, 2005: n.p.
• Hirst, Clayton. "Formula One 'loses' 140 million viewers and angers sponsors." Independent on Sunday, March 14, 2004: n.p.

More papers on World Formula One Championships:

• Cause and Effect Essay # 105328 : "The Globalization of the Formula One Championship"
• Cause and Effect Essay # 32904 : " Different War Aims Of The Belligerents In World War One"

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