There is no denying that fierce competition exists in the American sports sector to entice consumers to television nationwide. These include the major professional leagues such as the NFL, MLB, NHL, and NASCAR, which often aim to sway viewership to their advantage. However, since F1’s ascent to fame, due to Netflix’s phenomenal hit series Drive to Survive, the pinnacle of motorsports has also been fighting for a sizable portion of the US market.
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To put it briefly, there is an extremely tight competition for TV viewers’ attention in American sports. In light of this highly competitive environment, IndyCar decided to end its season in September rather than continue to compete for views. Considering that the MLB series is happening during this time of year, British journalist Joe Saward has offered a view on the intrinsic value of US sports teams.
Saward, in his article, compared Formula One with some of the big teams from the big leagues to highlight where F1 stands. He cites example of The Dallas Cowboys from the NFL before going into additional detail about differences in TV revenue across American sports.
At first, he asserts, “The fact that the biggest F1 team is worth no more than $1.5 billion gives a clear indication that there is potential for more.”
By highlighting the differences, the Briton hopes to show how Formula One has a great deal of room to grow in the US market. Not only that, but he also compared the NFL’s next 10-year contract with that of F1 and mentioned the NBA’s rumored $75 billion pact. He adds,” F1 made $780 million last year from TV revenues, the NFL recently concluded a 10-year $110 billion deal and the National Basketball Association (NBA) is hoping to land a new deal for the next decade at $75 billion.”
How are other sports performing compared to the F1 and Dallas Cowboys?
There were still many other sports that Americans were interested in when Formula One hit the US markets. However, in a lot of them, NASCAR received the greatest affection. The American motorsports industry has long been perceived as a luck-favored competition that employs a calculated strategy. The NASCAR series draws large crowds during the country’s peak sports viewing hours. It’s interesting to note that the races’ Sunday timing and element of unpredictability keep the audience enthralled. Apart from this, the NASCAR season consists of 36 racing events, along with exhibition races.
American motorsports is definitely a way of life for its passionate fan base, more than merely a racing series. The reason for this is that NASCAR is essentially a domestic competition, indicating that its travel schedule is far less taxing than that of F1.
However, in terms of valuation, even with their ardent fan base, the four-wheeled competition still falls short of the MLB team of the New York Yankees. According to Saward, the New York Yankees are the second-most valuable team ($7.1 billion), only behind the NFL team, the Dallas Cowboys. The success of these sports in US markets suggests that the F1 authorities might soon implement plans to raise the sport’s worth there.
