Carey: 'He is the right man to navigate the sport in difficult situations'

Formula 1 is pretty much in dire straits, because the coronavirus pandemic has led to a considerable drop in income. That is risky for an extraordinarily expensive sport and if the sport has another year like this year, there is a good chance that teams will fall. Former tyre specialist Kees van de Grint said this in the Slipstream broadcast. But with the appointment of Stefano Domenicali as the new CEO of Formula 1 there should be hope on the horizon.

He came as an outsider

Chase Carey from Liberty Media has so far been the face of the organisation behind Formula 1, but that will change as soon as Domenicali takes over that role. According to Carey, Domenicali is the right man to play the role of CEO because he is the new "eye of the storm", he says in the Beyond the Grid-podcast.

The knowledge of racing at the highest level together with his balanced personality makes him the ideal man. "I came into this as an outsider," says Carey. "And I think there’s some value in coming into the sport as an outsider because we felt it needed significant change and fresh perspective."

"Going forward, now what we felt was right was we want somebody who can maintain the momentum and continue to build on what we think we’ve put in place to grow the sport. One of the important things Stefano brings is the deep knowledge of not just the sport and the competition on track but the players in the sport and therefore, in many ways, he can hit the ground running in terms of taking things forward."

Unique personality

"Stefano also brings a unique personality to this that is somebody that has great respect. Sometimes I feel like in this role you’re sitting at the eye of a storm with a lot of partners circling around and I think he brings a balance and certainly an even-keeled personality that can navigate through what at times can be very noisy situation."

The primary goal Liberty Media sets for Domenicali is that Formula 1 should see continuous improvement. This on the track, in the competition, in the action, but also in creating an opportunity for the underdog to win, because that would make the sport healthier for the teams because everything is built around it. It is up to the new CEO to find the perfect balance and let the sport develop for the better.

However, he will immediately face a major challenge, especially if the pandemic persists and if new measures are taken that have an impact on sport. Nevertheless, Domenicali is the man for Liberty Media to guide everyone in this.