76
NOVEMBER 2012
•
HEMISPHERESMAGAZINE.COM
F1 tried again, from 2000 to 2007,
this time at America’s motorsports mecca,
the Indianapolis Motor Speedway. While
more successful than the Phoenix run,
the Indy stint is best remembered for the
2005
race, inwhich only six cars competed
following the withdrawal
of 14 others over tire safety
issues. Two years later
F1 was gone, felled by an
inability to secure corporate
sponsorship. On his way
out, the ever-controversial
F1 CEO Bernie Ecclestone
sniffed that his organiza-
tion didn’t need America to
prosper anyway.
It may not be a matter
of need, but it’s certainly
a matter of want, as this
month the global motor-
sports kingpin makes yet
another foray into the
American market. The U.S.
Grand Prix takes place Nov. 16–18 at the
new$300millionCircuit of theAmericas in
Austin, Texas. Andnext June the serieswill
debut on the streets of Weehawken and
West New York, N.J., with the Manha an
skyline serving as the backdrop.
The question this time, though, isn’t
whether Americans can be made to love
F1 as much as Europeans do. It’s whether
F1 evenneedsAmericans to signon inorder
to be successful in the U.S.
WHEN LEO HINDERY JR.
answers the phone, the
racer in him comes out—in
the formof a ra ling cough,
a reminder of seared lungs
from a racing career that
includes a GT2 class win in
the prestigious 24 Hours of
Le Mans in 2005. Hindery
today is managing partner
of InterMedia Partners,
a media-industry private
equity fund, and founder
of the YES Network, cable
home of the New York Yan-
kees. He’s also a key figure
in the New Jersey F1 effort.
ToHindery, F1’s stateside
woes have stemmed from three things:
location, location and location. When the
U.S. GrandPrix first launched, the conven-
tional wisdom was that the races needed
to a ract a fair number ofNASCAR fans—
who tend to be concentrated in the South
and Midwest—in order to succeed. Yet in
Phoenix and Indianapolis that crossover
never materialized.
Which iswhyNewJerseymade sense to
Hindery. GivenNewYorkCity’s large inter-
national communityandglobal cachet, he’s
confident he can get 110,000 fans to make
the short trip across the Hudson River. “I
don’t expect a lot ofmobilehomes showing
up here for that weekend’s race,” he says,
referring to themode of transport favored
by many a NASCAR pilgrim.
Circuit of the Americas president Steve
Sexton, who formerlyheadedupChurchill
Downs and the Kentucky Derby, sees a
similarly unique appeal in Austin. “When
European Formula 1 fans are looking for
venues to go to for races, they like to go
where there are things to do at night—and
one of those markets is Montreal, for the
CanadianGrandPrix,” he says. “Sowewent
to Montreal and looked at what they do:
the evenings, the street parties, themusic.
It had Austin written all over it. Austin
knows how to throw a party.”
If all this seems to suggest that it’s easier
to a ract Europeans toF1 events in theU.S.
than it is to sell the sport to people who
actually livehere, well, that’s because it sort
ofis.“F1racingissomuchmorecomplicated
culture
||
THE FAN
The question
isn’t whether
Americans
will love F1.
It’s whether
F1 even needs
Americans
to sign on
in order to be
successful
in the U.S.
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