Greg Maffei, CEO of Liberty Media, who owns F1, claims that all 10 teams in the Championship are given equal preference by the board. However, having a ‘business first’ mindset, neither Liberty Media nor he can turn a blind eye to a team like Ferrari who have the most marketability and huge commercial value.
Speaking to Tom Clarkson on the Beyond the Grid podcast, Maffei explained that Liberty Media notices skyrocketing engagements whenever Ferrari wins. While this doesn’t make him place the Italian outfit over the others, he cannot ignore the impact.
Maffei’s admission comes despite Red Bull being the face of F1 since 2021. In these years, the American company’s stocks have risen substantially. And their revenue rose by a massive 25% to $3.2 billion in 2023 following Red Bull’s dominant 21-win season (per Sorts Pro).
“I think all teams are treated equally in the sport. Look, we also recognize that there are some teams that have more marketing efforts and more marketing pizzazz. I’m not sure they get treated differently. But we notice that. We notice when Ferrari wins, there is a general thrill across the world that is higher.”
Maffei, since Liberty Media took over F1 in 2017, has orchestrated F1’s American invasion and overall growth in popularity. Naturally, he is a man with acute business acumen. But his allegiances may lie with Ferrari for another, more personal reason as well.
Liberty Media CEO reveals his Ferrari plans before the Italian GP
On the same podcast, Maffei revealed that he isn’t a big ‘car guy’ by any stretch of the imagination. However, he concedes that he owns a very special car made by Ferrari, and adores its engineering nobility – the Ferrari 812 GTS.
Ferrari 812 GTS ♠️ pic.twitter.com/ruf7Be4htq
— LUX Lifestyle (@LuxuryCars365) March 28, 2024
Because he loves this car so much, Maffei plans on visiting Ferrari’s headquarters and factory in Maranello ahead of this year’s Italian GP in Monza.
The 812 GTS is the Spyder (Convertible) spec of Ferrari’s V12 lineage. It is powered by a 65-degree V12 monster, can reach 60 mph in three seconds, and has a top speed of 210 mph. To get their hands on the Ferrari 812 GTS, one will be set back approximately $450,000.
