CNBC SPECIAL: Inside Track - The Business of Formula 1 | Episode 2

Squawk on the Street

CNBC

Investing, Business, News

4.1 • 567 Ratings

🗓️ 17 November 2023

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 2, Driving into the Future: CNBC's Sara Eisen explores the strategy behind Formula 1 motor racing's expansion in the U.S. from Austin to Miami to Las Vegas. She looks at what’s in store for the sport’s future – including a new racing series for female drivers called F1 Academy, and the inaugural Las Vegas Grand Prix. It’s F1’s most ambitious race yet, where the Las Vegas Strip will become an F1 track for the first time… Eisen goes behind the scenes to find out what it takes to build a track from scratch and how one family run business operates a kitchen from race to race across 4 continents to feed F1 teams and VIPs. CNBC gives listeners the inside track on the global sports phenomenon known as Formula 1.

Transcript

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0:00.0	I'm Sarah Eisen, and this is part two of Inside Track, the business of Formula One, a special
0:12.0	CNBC podcast. Act 4, Breaking Barriers. What are we going to see here? What do we have here?
0:19.6	Let me take you through the garage.
0:21.2	We have Landau's car.
0:23.0	We just got done with practice, so they'll tear it down.
0:25.9	That's what a Grand Prix driver looks like.
0:29.3	So don't be looking at data.
0:31.2	This is where we'll actually run the race from.
0:34.3	That's where you said.
0:35.2	Rain or Shine, the show must go on at the Canadian Grand Prix.
0:39.4	McLaren Racing CEO, Zach Brown, and his team, including drivers Landon Norris and Oscar
0:44.9	Piastri, have just finished practice.
0:47.6	And then that's Oscar's car over there.
0:50.5	He had a good session today, so did Landau.
0:52.6	So they'll take the car apart, rebuild it effectively
0:56.1	overnight, make any changes that the drivers and the engineers discuss. The McLaren team has been
1:02.8	competing in Formula One since 1966, making it one of the oldest and most storied franchises
1:08.7	in the league. But in more recent years, the team has been
1:11.6	fighting to keep pace with the big three, Ferrari, Mercedes, and Red Bull. Where is the bulk of
1:17.8	your investment going now? It's an R&D game. We're in the prototype business. We have new stuff
1:22.5	on our car this weekend. We'll have new stuff on our car next weekend. And depending on what your
1:26.8	challenges are with the car,
	...

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