Vietnamese Grand Prix 2020
Discussion
. I see what you did there!
Deesee said:
Well they are claiming 4-7 million losses per event, so I'm unsure how they are generating revenue for Motorsport, they were quoted last year as..
“We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
They’re unlikely to get it by increasing ticket prices. That strategy, which I seem to remember was suggested to them by Ecclestone when selling them the latest contract, fell flat when numbers fell and they had to actually lower the prices again. “We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
It would be interesting to know what the attendance (and losses) would be without the so called Hamilton effect. Maybe we’ll never know.
REALIST123 said:
Deesee said:
Well they are claiming 4-7 million losses per event, so I'm unsure how they are generating revenue for Motorsport, they were quoted last year as..
“We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
They’re unlikely to get it by increasing ticket prices. That strategy, which I seem to remember was suggested to them by Ecclestone when selling them the latest contract, fell flat when numbers fell and they had to actually lower the prices again. “We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
It would be interesting to know what the attendance (and losses) would be without the so called Hamilton effect. Maybe we’ll never know.
https://www.formula1.com/en/latest/article.f1-atte...
Silverstone averages by attendance 150,000 than the average GP (200,000), 350,000 people attended making it the most popular event on the calendar.
The BRDC claim that 50% of their total turnover (55m) is the GB GP.
350,000 attendees, so they are claiming average revenue per visitor of £78.00, whilst flogging tickets for general admission at £185.00, grandstand start at £300/350.
Im pretty sure Liberty don't want to lose those attendee numbers, Likewise when you have the highest attended event with some of the highest ticket prices, you have to ask why it doesn't work.
This is supposed to be the Vietnam Street Circuit in a game.
https://www.youtube.com/watch?v=JLZi41-BFJ0
https://www.youtube.com/watch?v=JLZi41-BFJ0
Deesee said:
REALIST123 said:
Deesee said:
Well they are claiming 4-7 million losses per event, so I'm unsure how they are generating revenue for Motorsport, they were quoted last year as..
“We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
They’re unlikely to get it by increasing ticket prices. That strategy, which I seem to remember was suggested to them by Ecclestone when selling them the latest contract, fell flat when numbers fell and they had to actually lower the prices again. “We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
It would be interesting to know what the attendance (and losses) would be without the so called Hamilton effect. Maybe we’ll never know.
https://www.formula1.com/en/latest/article.f1-atte...
Silverstone averages by attendance 150,000 than the average GP (200,000), 350,000 people attended making it the most popular event on the calendar.
The BRDC claim that 50% of their total turnover (55m) is the GB GP.
350,000 attendees, so they are claiming average revenue per visitor of £78.00, whilst flogging tickets for general admission at £185.00, grandstand start at £300/350.
Im pretty sure Liberty don't want to lose those attendee numbers, Likewise when you have the highest attended event with some of the highest ticket prices, you have to ask why it doesn't work.
Exige77 said:
The costs of all the people needed to stage this kind of event in a “first world country” are huge. I can well understand that even with extortionate ticket prices many can’t make a profit.
I think I'm right in thinking that it's the second single biggest public event in the UK after Glastonbury and certainly the largest single sporting event,As for the finances, they did turn a profit a few years back when they hired that chap who used to be CEO of Sainsbury's. It's been observed by many that Silverstone is run by a club with club mentality, not as a commercial endeavour. It does seem odd that even with the fee paid to F1, that with such popularity it can't be made to work.
I've long thought there to be a case top create 'blue-ribbon' GPs. These would exists as a normal part of the season calendar but their existence within it is ring-fenced and a lower fee charged. These would be those GPs held in countries that have contributed greatly to the sport and hosted races for a long period of time. Blue Ribbon GPs would of course include the UK as well as the likes of Italy, France, Germany, etc. Nothing to stop new countries coming forward but they pay a higher price.
Perhaps create a tier system a bit like they have in Tennis with the grand slams, world tours, etc (although of course they don't have a championship to speak of). So for races like Singapore, they might be deserving of something other than just a GP but not yet into Blue Ribbon territory.
Just a thought!
Deesee said:
REALIST123 said:
Deesee said:
Well they are claiming 4-7 million losses per event, so I'm unsure how they are generating revenue for Motorsport, they were quoted last year as..
“We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
They’re unlikely to get it by increasing ticket prices. That strategy, which I seem to remember was suggested to them by Ecclestone when selling them the latest contract, fell flat when numbers fell and they had to actually lower the prices again. “We are pretty much a full house, and we are charging pretty much a full price, and we still can’t make the sums add up,” Stuart Pringle, the track’s sporting director, has said.
Simple Fag pack maths suggests they somehow need to find an extra £70 profit per person to breakeven, lord knows what that would extend to in terms of turnover/sales.
It would be interesting to know what the attendance (and losses) would be without the so called Hamilton effect. Maybe we’ll never know.
https://www.formula1.com/en/latest/article.f1-atte...
Silverstone averages by attendance 150,000 than the average GP (200,000), 350,000 people attended making it the most popular event on the calendar.
The BRDC claim that 50% of their total turnover (55m) is the GB GP.
350,000 attendees, so they are claiming average revenue per visitor of £78.00, whilst flogging tickets for general admission at £185.00, grandstand start at £300/350.
Im pretty sure Liberty don't want to lose those attendee numbers, Likewise when you have the highest attended event with some of the highest ticket prices, you have to ask why it doesn't work.
All I said is that they’ve tried increasing prices and it resulted in falling numbers. I also wondered what the attendance would be without Hamilton.
The fact that they lose money on it is a proven fact, I believe.
BTW 350,000 at £78 could be right. That’s numbers over the weekend; there aren’t 350,000 different people buying tickets. £185 GA is for all three days. £60 a day average.
Those who only go on Friday pay £50.
I think it’s clear why they lose money; the £20 odd million (soon to be 27) they pay Liberty.
REALIST123 said:
BigBen said:
Anyone thinking of going to this one?
I am considering it as an alternative to my bi-annual trip to Austin
Ben
You go to Austin twice each year? Or do you mean biennial? I am considering it as an alternative to my bi-annual trip to Austin
Ben
Where have you stayed there? I’ve just booked flights there for 2020, need to find some accommodation.
I have rented a house just outside the city (I think the owners are dead now or I would likely have done it again) bit of a PITA but worked well with a big group.
I have stayed in a friend's RV at Bastrop, handy for the circuit but a bit of a drive into the city for entertainment
Most recently stayed in a Days Inn or some other budget chain downtown, most expensive yet s
ttest hotel I have stayed in but worth doing as the weekend is as much about the social side than the racing.BigBen said:
REALIST123 said:
BigBen said:
Anyone thinking of going to this one?
I am considering it as an alternative to my bi-annual trip to Austin
Ben
You go to Austin twice each year? Or do you mean biennial? I am considering it as an alternative to my bi-annual trip to Austin
Ben
Where have you stayed there? I’ve just booked flights there for 2020, need to find some accommodation.
I have rented a house just outside the city (I think the owners are dead now or I would likely have done it again) bit of a PITA but worked well with a big group.
I have stayed in a friend's RV at Bastrop, handy for the circuit but a bit of a drive into the city for entertainment
Most recently stayed in a Days Inn or some other budget chain downtown, most expensive yet s
ttest hotel I have stayed in but worth doing as the weekend is as much about the social side than the racing.About 10 miles from COTA, 5 from DT or airport.
BigBen said:
Anyone thinking of going to this one?
I am considering it as an alternative to my bi-annual trip to Austin
Ben
We have considered it (mostly to be honest, because we want to see Vietnam anyway) but have decided to maybe go 2021 instead. Dependent on how good the circuit proves to be. I think the turn 8 seating would be best, giving a long view down both long straights for overtaking and the braking into the very tight turns 6 & 7.I am considering it as an alternative to my bi-annual trip to Austin
Ben
I think it could potentially be a very good circuit though - and if you're brave enough to take the year one risk of the unknown, there is at least plenty of potential for an unusual result. New circuit = at least one team is going to get their set-up wrong (or very right) and end in a position that isn't typical for their car.
For next year, if at all possible, I'm hoping to go to Zandvoort
TheDeuce said:
BigBen said:
Anyone thinking of going to this one?
I am considering it as an alternative to my bi-annual trip to Austin
Ben
We have considered it (mostly to be honest, because we want to see Vietnam anyway) but have decided to maybe go 2021 instead. Dependent on how good the circuit proves to be. I think the turn 8 seating would be best, giving a long view down both long straights for overtaking and the braking into the very tight turns 6 & 7.I am considering it as an alternative to my bi-annual trip to Austin
Ben
I think it could potentially be a very good circuit though - and if you're brave enough to take the year one risk of the unknown, there is at least plenty of potential for an unusual result. New circuit = at least one team is going to get their set-up wrong (or very right) and end in a position that isn't typical for their car.
For next year, if at all possible, I'm hoping to go to Zandvoort
REALIST123 said:
We thought about Hanoi but, having been there a couple of times it’s my least favourite Vietnamese place, especially with the pollution and poverty. The risk of another poor street circuit also tells me to wait and see how it goes first.
That's pretty much our feeling too. Also... what's the chances that year one hosting this sort of sporting event will result in monumental traffic and organisational issues? I've never been but Hanoi does have a bit a reputation for being a disorganised crunch spot even on a typical day. I have no doubt the organisers will have considered the same and made a great effort, and no matter what we'd cope... But combined with not even knowing what the racing will be like, we're gonna hold off.Very much looking forward to watching from home though next year though.
TheDeuce said:
REALIST123 said:
We thought about Hanoi but, having been there a couple of times it’s my least favourite Vietnamese place, especially with the pollution and poverty. The risk of another poor street circuit also tells me to wait and see how it goes first.
That's pretty much our feeling too. Also... what's the chances that year one hosting this sort of sporting event will result in monumental traffic and organisational issues? I've never been but Hanoi does have a bit a reputation for being a disorganised crunch spot even on a typical day. I have no doubt the organisers will have considered the same and made a great effort, and no matter what we'd cope... But combined with not even knowing what the racing will be like, we're gonna hold off.Very much looking forward to watching from home though next year though.
BigBen said:
TheDeuce said:
REALIST123 said:
We thought about Hanoi but, having been there a couple of times it’s my least favourite Vietnamese place, especially with the pollution and poverty. The risk of another poor street circuit also tells me to wait and see how it goes first.
That's pretty much our feeling too. Also... what's the chances that year one hosting this sort of sporting event will result in monumental traffic and organisational issues? I've never been but Hanoi does have a bit a reputation for being a disorganised crunch spot even on a typical day. I have no doubt the organisers will have considered the same and made a great effort, and no matter what we'd cope... But combined with not even knowing what the racing will be like, we're gonna hold off.Very much looking forward to watching from home though next year though.
Then there’s the race; but the whole will always be better with a memorable race.
Incidentally, the whole of the above is why I’ll likely never go to Paul Ricard....... for me it will always fail on both measures..........
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