Has Formula 1 Lost Its Attractiveness?
Posted on November 19, 2009
Filed Under Avon Tires, Bridgestone Tires, Goodyear Tires
The editor of Modern Tire Dealer magazine Bob Ulrich says that no one cares about Bridgestone’s leaving Formula 1 championship.
“So, Bridgestone stops supplying Formula 1 with its tires after 2010 season. In its announcement the company noted that it needs to “redirect resources” (i.e. millions of dollars) as it had achieved its goals in F1 – improved the recognizability of the brand and developed innovative technologies. Akron Beacon Journal wrote a small article on the issue and nothing appeared there besides that article. No shouting from F1 teams, no hot discussions at fan forums.
Even International Automobile Association FIA, Formula 1 managing body, buried the press-release in the depths of its website and the text was extremely unemotional: “Formula 1 championship will use the services of a new supplier beginning with 2011, since the Bridgestone company has announced that it will not extend its contract after the termination of its validity term.”
I had an opportunity to meet Christine Crakovyak from Bridgestone at the SEMA exhibition and find out more about the situation.
“The company must constantly assess the importance and necessity of all of its investments, as they should be implemented only at the appropriate time and for the appropriate purposes” – was the answer. The participation of Bridgestone in F1 led to the considerable improvement of the brand recognizability (especially in Europe), new contracts in the Original Equipment sector (with Aston Martin, for example), and modernization of the tires’ design and manufacturing process.
“It was an excellent cooperation, - she continued. – But now it is time to move to the next level”.
Who can replace Bridgestone in Formula 1? Definitely, Michelin won’t participate. Goodyear once left the championship, and its current financial position will hardly allow them to return. Pirelli? Korean Kumho announced in 2004 that it would develop tires for F1 within three years. I’m not sure. Avon Tyres may replace Bridgestone as it supplies Formula 2…
The question is the same: who cares?”
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