Stefano Domenicali: driving F1 forward

Tue Jun 13 2023

Stefano Dominikali's Approach to Formula One

Stefano Dominikali believes in respecting traditions while embracing change in Formula One.
He emphasizes the importance of considering the bigger picture and what is best for the sport.
Dominikali has had success at Ferrari, winning 14 drivers and constructors' titles.
He is determined to capitalize on the recent popularity of Formula One.

Stefanot is now the president and CEO of Formula One, which he did not expect five years ago.
He knew what to expect in terms of managing the business, but there were challenges due to the pandemic, political evolution, team involvement, media broadcasters, etc.
Stefanot received the call about the job offer at his house in Monza after the Italian Grand Prix and had to give an answer within a week.
His family embraced the opportunity despite having to move and change their lifestyle.

Stefano refers to Formula One as his family business, having been born into it professionally.
His wife is knowledgeable about the business, but his kids are not super fans.
He believes it's important to keep one's feet on the ground and not believe that Formula One is the only thing in life.

Stefano feels the weight of responsibility that comes with running Formula One and believes it's important to consider the impact decisions have on people, businesses, and other factors.
The speaker emphasizes the importance of feeling a sense of responsibility in their work.
They prefer to prioritize their duty over personal desires.
The speaker acknowledges the great responsibility that comes with their position and the need to make certain decisions alone.

The speaker is looking ahead to the future of Formula One and needs to understand the dynamics and elements that will shape it.
The speed of change in life is very fast, so decisions need to be made with a calm and clear vision.
Chase has helped with long-term planning, such as implementing the budget cap.
The speaker's experience as team principal of Ferrari for seven years is useful in understanding the complexity of the ecosystem in Formula One.
Ferrari is important to Formula One because they are part of its legacy, but other teams are also strongly invested in it.
The speaker believes that all teams need to grow for the sport to grow.

The budget cap was implemented to provide financial stability for teams and promote a competitive field.
Sustainable financial stability is important for all teams to ensure growth and development.
The current Concord Agreement is a couple of years old, but discussions for a new one are happening.
There is an ongoing evaluation on the number of teams that should be on the Formula One grid, with 10 teams being considered enough to create a good show and competition on the track.
The discussion on whether to have more than 10 teams will be part of future talks related to the renewal of the Concord agreement.

The speaker is open to new teams joining F1, but wants to ensure they are the right fit and respects those who have invested in the sport.
A question is posed about the larger gaps in the field for 2023 despite regulations meant to close them, and the speaker notes that while there is a significant gap with Red Bull, other teams are very close and have done an incredible job.
The aim is to keep the gap as small as possible and other teams are likely working on catching up within the budget cap.

Changing regulations mid-season to slow down Red Bull is not fair and correct.
Leaving the regulations the same and allowing everyone to converge at the time is the right approach.
F1 has always been a sport with cycles of dominance, and the objective should be to ensure that these cycles continue in the future.
Max Verstappen is an impressive driver who has won more races for Red Bull than any other driver in their history.
Comparing drivers of different generations is not ideal, but Max's numbers speak for themselves, and he is one of the best drivers ever.
Max's negative opinions about certain aspects of the sport do not concern his manager because it's part of his personality, and everyone has a bigger role to play in the growth of this sport.
The speaker is not worried about Max's future because they have a good relationship and will not interfere in his choice.

The ideal number of races for Formula One is 24, which strikes a balance between logistics and market demand.
Madrid wants to host a race in the future, but no decision has been made yet. Barcelona still has years left on its contract with Formula One.
Formula One used to have a European-centric calendar, but now has a worldwide approach with more races.
The rotational principle could be applied to some European races in the future, but not in the same year.
Historical races like Monza, Silverstone, and Spa are important for providing context for new races and have their own personality.
"Historic" should not be seen as old and out of fashion; it has a greater responsibility to evolve with the world.
While new generation fans may not have knowledge of past drivers or technical elements, it's important to find the right balance between tradition and progress.
Historical races will always be part of the calendar, but some may need to work on infrastructure.

Historical races will always be part of the calendar, but some need to recognize the need to work on infrastructure to meet fans' changing needs.
One example is when a race invested in infrastructure related to providing the best experience for fans.
The best promoter of the year award will be reintroduced at the end of the season with transparent evaluation elements.
F1 is an IP business that requires partnerships with promoters, media, broadcasters, teams, sponsors, and partners.
Las Vegas Grand Prix Corporation is doing an incredible job preparing for the upcoming race in an iconic location with high expectations and demands.
The race weekend was scheduled for a specific time due to limited options.

Ross Braun has been important for Formula One and still provides strategic help despite stepping back this year.
Formula One and FIA have a good relationship and need to work together for the betterment of the sport.
Financial regulation is a massive task that requires competence from regulators.
Stefano feels a responsibility to shape the next level of sport with Mohammed as they have a solid relationship.
Stefano doesn't focus on learning things while being the boss of Formula One.

Stefano Domenicali, former F1 boss, emphasizes the importance of always being on standby mode and listening to people in his job.
His goal is to be loyal, transparent, and credible with no compromise.
Neil Oakley is praised as an unsung hero in the sport by fans who appreciate his contributions to shaping F1 history.
Fans share personal stories about witnessing McLaren Honda testing and Frank Williams' first victory celebration.

F1 Nation's preview of the Canadian Grand Prix and a new episode of Formula Y are available for listeners.