Monaco Grand Prix Report: McLaren Dominance and Financial Growth
MONTE CARLO, May 28, 2023 — The Monaco Grand Prix witnessed a competitive showing as Lando Norris closed the gap on McLaren teammate and Formula 1 championship leader Oscar Piastri, following Piastri’s historic victory in the Principality. Despite the race lacking high drama, McLaren extended its substantial lead in the Constructors’ Championship, a moment celebrated by CEO Zak Brown on the podium.
This year’s event marked a significant cultural and financial uptick for Formula 1, drawing in larger crowds and more luxury yachts than in previous years. The increase in attendance reflects F1’s ongoing commercial success, spotlighting its ability to attract top-tier sponsors.
Among these, LVMH has invested in a groundbreaking 10-year, $1 billion deal, featuring prominent brands like Louis Vuitton and Moet Hennessy. Notably, TAG Heuer served as the title sponsor for the Monaco GP, a first for the event, highlighting the financial clout now associated with F1.
Liberty Media’s new CEO, Derek Chang, shared insights on the organization’s vision for growth, emphasizing the importance of such lucrative partnerships in F1’s expansion strategy.
James Allen was joined in the studio by Autosport’s F1 Business Correspondent, Mark Mann-Bryans, to discuss these developments and their implications for the sport. For fans looking to engage further, the opportunity to compete in Motorsport’s popular F1 Fantasy League remains available.
For comments and further discussions, reach out to @jamesallenonf1 on Twitter or via email at jamesallenonf1@autosport.com.
