1 00:00:00,720 --> 00:00:04,600 Speaker 1: This is Bloomberg Business of Sports. The world changing and 2 00:00:04,640 --> 00:00:06,440 Speaker 1: what are the things we can do to transform our 3 00:00:06,480 --> 00:00:09,600 Speaker 1: business and engage our fans globally in different ways. People 4 00:00:09,600 --> 00:00:12,400 Speaker 1: are using their name and likeness to create more opportunities, 5 00:00:12,480 --> 00:00:15,520 Speaker 1: more stakes and companies. In order to turn the organization around, 6 00:00:15,560 --> 00:00:17,279 Speaker 1: we had to turn it around not only just on 7 00:00:17,440 --> 00:00:20,919 Speaker 1: baseball operations side, but other business operations side well and 8 00:00:21,079 --> 00:00:23,079 Speaker 1: any other sport is very difficult, but I like to 9 00:00:23,079 --> 00:00:26,560 Speaker 1: blug my horizons and be able to expand. Sports need 10 00:00:26,640 --> 00:00:29,040 Speaker 1: to be consumed a lot and not to the big 11 00:00:29,160 --> 00:00:33,440 Speaker 1: competitive advantage for in artual property holders of sports content 12 00:00:33,560 --> 00:00:39,720 Speaker 1: in the media landscape. Bloomberg Business of Sports from Bloomberg Radio. Hi, 13 00:00:39,720 --> 00:00:42,120 Speaker 1: every one, I'm Jason Kelly, and I'm Mike Lynch and 14 00:00:42,120 --> 00:00:44,560 Speaker 1: I'm Michael Barr And this is the Bloomberg Business of 15 00:00:44,600 --> 00:00:47,440 Speaker 1: Sports podcast where we explore the big money issues in 16 00:00:47,479 --> 00:00:51,080 Speaker 1: the world of sports. And today it is a Formula 17 00:00:51,200 --> 00:00:55,840 Speaker 1: E Fast Car special. We've got Jamie Regal and Michael 18 00:00:55,960 --> 00:00:58,960 Speaker 1: Andretti with us. We're going to start with Jamie Regal. 19 00:00:59,000 --> 00:01:02,200 Speaker 1: He is the CEO of Formula E and Jamie, it's 20 00:01:02,280 --> 00:01:05,760 Speaker 1: great to have you with us because it's all happening 21 00:01:06,000 --> 00:01:11,120 Speaker 1: in Brooklyn this weekend. Formula E is back, the fans 22 00:01:11,160 --> 00:01:14,120 Speaker 1: are back. Tell us how you put all this together, 23 00:01:14,280 --> 00:01:18,039 Speaker 1: because it's been a long time coming to get racing 24 00:01:18,160 --> 00:01:20,680 Speaker 1: back the way we want it. We are delighted to 25 00:01:20,720 --> 00:01:23,360 Speaker 1: be coming back to New York. It's one of the 26 00:01:23,360 --> 00:01:26,600 Speaker 1: teachers of the Formula calendar Historically, you know, we look 27 00:01:26,680 --> 00:01:29,160 Speaker 1: to race in some of the most iconic cities in 28 00:01:29,160 --> 00:01:32,320 Speaker 1: the world, and the New York obviously Sh'S the pinnacle 29 00:01:32,360 --> 00:01:35,119 Speaker 1: of that list, and so we're delighted to be coming back. 30 00:01:35,800 --> 00:01:40,000 Speaker 1: The preparation over the last year, really around our setting 31 00:01:40,040 --> 00:01:43,240 Speaker 1: up our calendar, which we announced usually in July for 32 00:01:43,319 --> 00:01:46,880 Speaker 1: the subsequent season, has been chaotic, to put it, mildly, 33 00:01:47,000 --> 00:01:50,520 Speaker 1: becaiven the situation with covid Um. We're a global race series, 34 00:01:50,520 --> 00:01:52,680 Speaker 1: so we're always trying to figure out how can we 35 00:01:52,720 --> 00:01:55,120 Speaker 1: take our our championship around the world, but that's been 36 00:01:55,160 --> 00:01:58,360 Speaker 1: particularly challenging given the given the context we opinion over 37 00:01:58,400 --> 00:02:02,600 Speaker 1: the last eighteen months now with local regulations and so on. 38 00:02:03,160 --> 00:02:05,520 Speaker 1: So on the one hand, we're we're super excited about 39 00:02:05,520 --> 00:02:08,680 Speaker 1: New York UM. It's an iconic venue for Formula coming 40 00:02:08,720 --> 00:02:12,040 Speaker 1: back to Brooklyn. We will be hosting fans, which is 41 00:02:12,080 --> 00:02:14,120 Speaker 1: one of the first races this year where we're actually 42 00:02:14,160 --> 00:02:16,600 Speaker 1: going to be able to put on our put on 43 00:02:16,639 --> 00:02:19,280 Speaker 1: our series in front of spectators, which is super exciting. 44 00:02:19,680 --> 00:02:23,120 Speaker 1: On the other hand, you know, we've been negotiating and 45 00:02:23,320 --> 00:02:27,760 Speaker 1: working with uh you know, the US authorities and border 46 00:02:27,800 --> 00:02:31,320 Speaker 1: control and homeland security and that to be able to 47 00:02:31,360 --> 00:02:34,880 Speaker 1: bring our championship in And it's interesting our our first 48 00:02:34,919 --> 00:02:37,640 Speaker 1: list that we submitted because there's a because the borders 49 00:02:37,680 --> 00:02:40,280 Speaker 1: are technically closed for anyone coming from the Changan area 50 00:02:40,320 --> 00:02:42,480 Speaker 1: from Europe um. You know, when we're more of a 51 00:02:42,520 --> 00:02:45,160 Speaker 1: European business, we typically bring about a thousand people in 52 00:02:45,680 --> 00:02:47,800 Speaker 1: for the race. And they said, okay, well, here's the 53 00:02:47,800 --> 00:02:49,359 Speaker 1: list you can you can bring in and it was 54 00:02:49,400 --> 00:02:51,400 Speaker 1: the list of the twenty four drivers and that was it. 55 00:02:51,680 --> 00:02:54,519 Speaker 1: We had to explain that it was quite important for 56 00:02:54,600 --> 00:02:56,040 Speaker 1: us to be able to bring a much bigger group 57 00:02:56,040 --> 00:02:58,639 Speaker 1: than a each of the teams as their engineers, their 58 00:02:58,680 --> 00:03:01,520 Speaker 1: mechanics of we were shipping around a lot of kits 59 00:03:01,600 --> 00:03:04,320 Speaker 1: around the world to put these races on and TV 60 00:03:04,440 --> 00:03:06,480 Speaker 1: cruise and song. So anyway, we've been we've been working 61 00:03:06,520 --> 00:03:09,600 Speaker 1: really closely with the UH with the authorities and have 62 00:03:09,720 --> 00:03:12,160 Speaker 1: the exemptions and we're fired up to come. But it's 63 00:03:12,200 --> 00:03:15,000 Speaker 1: going to be more of a local race even even 64 00:03:15,080 --> 00:03:19,120 Speaker 1: then typical because because our group coming from Europe has 65 00:03:19,120 --> 00:03:21,080 Speaker 1: has to be small and we're hiring local people to 66 00:03:21,120 --> 00:03:23,760 Speaker 1: be able to to put on the race, which which 67 00:03:23,760 --> 00:03:25,799 Speaker 1: is a good thing, you know, sort of gets gets 68 00:03:25,800 --> 00:03:29,480 Speaker 1: sport rebooted New York. So we're really excited. Hey, Jamie, 69 00:03:29,520 --> 00:03:32,720 Speaker 1: this is Michael Barr racing fool as I'm going around 70 00:03:32,720 --> 00:03:36,840 Speaker 1: here and uh, you know, the how's the calendar looking, 71 00:03:36,920 --> 00:03:41,600 Speaker 1: because you guys uh with it with Formula E being back, 72 00:03:41,880 --> 00:03:46,400 Speaker 1: How are you guys looking calendar wise down the road. Yeah, 73 00:03:46,800 --> 00:03:50,000 Speaker 1: it's been a it's been a pretty delicate balance over 74 00:03:50,000 --> 00:03:52,840 Speaker 1: the last twelve months. And you know, last year we 75 00:03:52,920 --> 00:03:55,720 Speaker 1: finished our season with six races in ten days in Berlin, 76 00:03:55,800 --> 00:03:57,440 Speaker 1: which is a little bit like what the NBA did 77 00:03:57,480 --> 00:04:00,040 Speaker 1: in Orlando last year to finish off the season. We 78 00:04:00,120 --> 00:04:02,840 Speaker 1: upgrading the bubble. But we're a global series and so 79 00:04:02,880 --> 00:04:04,200 Speaker 1: this year we said, hey, we have to try to 80 00:04:04,240 --> 00:04:06,640 Speaker 1: travel around the world and deliver our products. And this 81 00:04:06,720 --> 00:04:10,000 Speaker 1: year it's been it's been good. We've we've juggled some venues, 82 00:04:10,040 --> 00:04:13,000 Speaker 1: but we've been to Saudi Arabia, we've been to Rome, Italy, 83 00:04:13,480 --> 00:04:16,480 Speaker 1: We've been the Valencia, Spain, We've been to Monaco. Uh, 84 00:04:16,600 --> 00:04:19,320 Speaker 1: this is sort of a home of Motor sport Um 85 00:04:19,400 --> 00:04:21,880 Speaker 1: and we've been or at least three European audience with 86 00:04:22,360 --> 00:04:25,200 Speaker 1: Motor Sport and we've been you know, now we're now 87 00:04:25,240 --> 00:04:26,760 Speaker 1: we're in the North American like we're in Port to 88 00:04:26,920 --> 00:04:30,159 Speaker 1: Mexico and New York. We've got London and Berlin coming, 89 00:04:30,240 --> 00:04:32,440 Speaker 1: so you know, we're pretty excited about we've been able 90 00:04:32,480 --> 00:04:35,360 Speaker 1: to deliver. It's been challenging. We haven't had fans that 91 00:04:35,440 --> 00:04:37,279 Speaker 1: a lot of these events, they've been limited in terms 92 00:04:37,279 --> 00:04:39,480 Speaker 1: of spectators, but we've been able to put the product on. 93 00:04:40,000 --> 00:04:43,520 Speaker 1: We're going to announce our calendary next week for what 94 00:04:43,600 --> 00:04:46,159 Speaker 1: we call season eight, so the two thousand twenty two season, 95 00:04:46,279 --> 00:04:48,120 Speaker 1: and we're really excited because we've got a couple of 96 00:04:48,120 --> 00:04:50,080 Speaker 1: new venues and new cities that we're going to be 97 00:04:50,120 --> 00:04:53,599 Speaker 1: announcing uh in the first week of July, one in 98 00:04:53,640 --> 00:04:56,560 Speaker 1: Africa and another in North America. So uh, you know, 99 00:04:56,760 --> 00:05:00,280 Speaker 1: we're back on the growth path, which is great. Hey, Jamie, 100 00:05:00,320 --> 00:05:03,040 Speaker 1: it's Mike up in Boston. We just ran down those 101 00:05:03,080 --> 00:05:05,960 Speaker 1: restrictions of the border control with the United States. Do 102 00:05:06,000 --> 00:05:09,159 Speaker 1: you find the same sort of handicaps and hurdles dealing 103 00:05:09,160 --> 00:05:11,680 Speaker 1: with other countries or are some of them? What countries 104 00:05:11,720 --> 00:05:16,479 Speaker 1: are the toughest and what are the easiest to deal with? Look, 105 00:05:16,520 --> 00:05:18,240 Speaker 1: the first thing I would say is, you know, we're 106 00:05:18,279 --> 00:05:20,800 Speaker 1: trying to put on a global race series and be respectful, 107 00:05:21,240 --> 00:05:24,520 Speaker 1: uh and protective of two groups in simple types. Right, 108 00:05:24,560 --> 00:05:26,880 Speaker 1: one is what we call our ecosystem, or are our 109 00:05:26,920 --> 00:05:29,600 Speaker 1: paddic are our group of people who travel around the world. Right, 110 00:05:29,600 --> 00:05:32,560 Speaker 1: we have to make sure that those individuals are are 111 00:05:33,120 --> 00:05:35,800 Speaker 1: minimizing risk as it relates to contracting COVID. You know, 112 00:05:36,200 --> 00:05:39,160 Speaker 1: we're not a hockey team or a basketball team. Um, 113 00:05:39,240 --> 00:05:42,680 Speaker 1: you know where if I's one or two athletes go down, 114 00:05:42,760 --> 00:05:44,520 Speaker 1: you know you've got substitutes, right, we have, we have 115 00:05:44,560 --> 00:05:48,200 Speaker 1: two drivers, So we have to be protective of of 116 00:05:48,360 --> 00:05:51,799 Speaker 1: of those of those folks. And then you know, perhaps 117 00:05:51,880 --> 00:05:54,080 Speaker 1: even more importantly, we want to be very respectful in 118 00:05:54,080 --> 00:05:58,240 Speaker 1: the context of COVID of the local population, right, I mean, 119 00:05:58,240 --> 00:06:00,520 Speaker 1: we want to be seen to be respecting local race relations. 120 00:06:00,600 --> 00:06:02,640 Speaker 1: And the last thing we want to do is BC 121 00:06:02,880 --> 00:06:06,279 Speaker 1: to be contributing to the pandemic, and so you know, 122 00:06:06,320 --> 00:06:09,200 Speaker 1: those are sort of the the overriding principles UM I 123 00:06:09,200 --> 00:06:12,719 Speaker 1: would say, you know, each market has its own um 124 00:06:13,080 --> 00:06:15,960 Speaker 1: Idio secrecies. So there's been somewhere we've been banned completely 125 00:06:16,080 --> 00:06:18,000 Speaker 1: and we've not been able to travel, right, so we've 126 00:06:18,360 --> 00:06:20,400 Speaker 1: not been able to have a race in in China, 127 00:06:20,480 --> 00:06:24,479 Speaker 1: for example, our race in Santiago, Chile was canceled this 128 00:06:24,600 --> 00:06:27,760 Speaker 1: year due to COVID restrictions and not being able to 129 00:06:27,760 --> 00:06:30,440 Speaker 1: secure any intemptions to something of the country. On the 130 00:06:30,480 --> 00:06:33,640 Speaker 1: other hand, in Rome in April, we race in Italy 131 00:06:33,680 --> 00:06:35,839 Speaker 1: and Rome when the full city was on a lockdown. 132 00:06:36,000 --> 00:06:38,200 Speaker 1: You know, we had just only traveled between our hotel 133 00:06:38,279 --> 00:06:40,480 Speaker 1: room and the race track and the whole city was 134 00:06:40,680 --> 00:06:43,960 Speaker 1: shut down. We couldn't enjoy all that Rome has to offer, 135 00:06:44,200 --> 00:06:46,000 Speaker 1: but we were able to put the product on UM. 136 00:06:46,000 --> 00:06:47,880 Speaker 1: So actually, when I look at the US, we're really 137 00:06:47,880 --> 00:06:50,400 Speaker 1: excited about, you know, the exemptions that we have and 138 00:06:50,720 --> 00:06:53,640 Speaker 1: we're gonna be trialing vaccine passports to get fans into 139 00:06:54,279 --> 00:06:57,760 Speaker 1: the venue without without COVID tests. So you know, we're 140 00:06:57,800 --> 00:06:59,800 Speaker 1: pushing the envelope as much as we can. And look, 141 00:06:59,800 --> 00:07:01,719 Speaker 1: were just we're just happy to be there, to be honest, 142 00:07:01,760 --> 00:07:05,080 Speaker 1: after the last it's just good to be back in 143 00:07:05,160 --> 00:07:07,960 Speaker 1: the US and the New York in particular, you know, 144 00:07:08,120 --> 00:07:11,560 Speaker 1: Jamie widening the aperture a little bit to to look 145 00:07:11,600 --> 00:07:15,360 Speaker 1: at the broader landscape around sort of the whole concept 146 00:07:15,480 --> 00:07:18,960 Speaker 1: of e and e v s and electric cars. I mean, 147 00:07:19,040 --> 00:07:22,200 Speaker 1: it does feel like the world is starting to come 148 00:07:22,240 --> 00:07:24,920 Speaker 1: to you, even from a consumer perspective. And I say 149 00:07:24,960 --> 00:07:26,880 Speaker 1: this as someone who in the last year has bought 150 00:07:26,920 --> 00:07:29,960 Speaker 1: an electric car. Uh, and it is an amazing thing. 151 00:07:30,080 --> 00:07:32,840 Speaker 1: Once you're looking for it. You do kind of see 152 00:07:32,880 --> 00:07:35,880 Speaker 1: this evidence. You see it from the big auto makers 153 00:07:36,440 --> 00:07:42,360 Speaker 1: help us understand how that trend fits into the fans, 154 00:07:42,480 --> 00:07:45,920 Speaker 1: how it fits into the sponsorship aspect of this kind 155 00:07:45,920 --> 00:07:51,440 Speaker 1: of this this broader landscape. Absolutely, and I think you've 156 00:07:51,480 --> 00:07:54,640 Speaker 1: seen an enormous shift and even in the last twelve 157 00:07:54,720 --> 00:07:58,240 Speaker 1: months in terms of the push toward electric And it's 158 00:07:58,240 --> 00:08:00,720 Speaker 1: funny if if you're an electric car drive right, and 159 00:08:01,000 --> 00:08:05,080 Speaker 1: you purchased the Tesla or you purchased another model, most 160 00:08:05,120 --> 00:08:07,640 Speaker 1: of those people you meet are huge advocates, right, and 161 00:08:07,960 --> 00:08:10,800 Speaker 1: they're not going back unless you know, perhaps they have 162 00:08:10,920 --> 00:08:14,200 Speaker 1: a penchant for vintage cars or something like that, because 163 00:08:14,240 --> 00:08:17,080 Speaker 1: the power, you know, the acceleration, you know, just the 164 00:08:17,400 --> 00:08:20,720 Speaker 1: quality of the drive is so high that the interface, 165 00:08:20,920 --> 00:08:24,080 Speaker 1: you know, it's it's a much more digital environment, which 166 00:08:24,200 --> 00:08:25,840 Speaker 1: you know we've all come to expect in our world. 167 00:08:25,880 --> 00:08:28,720 Speaker 1: So you know that case is accelerating. What was driving 168 00:08:28,760 --> 00:08:31,240 Speaker 1: that and in clearly Tesla played a huge, huge role 169 00:08:31,320 --> 00:08:34,199 Speaker 1: and catalyzing that market UM And I think what you're 170 00:08:34,200 --> 00:08:37,160 Speaker 1: seeing now is I guess two or three elements. Right 171 00:08:37,200 --> 00:08:39,839 Speaker 1: one is consumer poll right, So what I was just 172 00:08:39,920 --> 00:08:42,440 Speaker 1: to refer in to right once Once, once people experience 173 00:08:42,480 --> 00:08:45,520 Speaker 1: that they want more UM number two. You know, the 174 00:08:45,559 --> 00:08:48,800 Speaker 1: rest of the manufacturers are are are now pushing very 175 00:08:48,880 --> 00:08:53,400 Speaker 1: hard to to accelerate their electric fleets. And you're seeing that. 176 00:08:53,640 --> 00:08:56,239 Speaker 1: You know, if you're if you're listening or watching advertising, 177 00:08:56,520 --> 00:08:59,960 Speaker 1: all of the advertising, particularly around sports, is around elect 178 00:09:00,000 --> 00:09:02,000 Speaker 1: trick mobility. If you're watching the Euros right now or 179 00:09:02,040 --> 00:09:04,520 Speaker 1: you're watching the NHL playoffs, you know you're seeing a 180 00:09:04,559 --> 00:09:08,120 Speaker 1: lot of electric mobility advertising. And then you have government regulation, 181 00:09:08,480 --> 00:09:11,960 Speaker 1: right and you know the politics of it around electric 182 00:09:12,000 --> 00:09:15,360 Speaker 1: mobility and climate change are different. Niche market but generally speaking, 183 00:09:15,440 --> 00:09:19,599 Speaker 1: everywhere in the world is tightening the emission standards and 184 00:09:20,120 --> 00:09:23,680 Speaker 1: that's that's leading to a change into a forcing factor 185 00:09:23,840 --> 00:09:26,599 Speaker 1: for for the manufacturers. So you know, those are the 186 00:09:26,679 --> 00:09:28,840 Speaker 1: macro trends. Then you look at you know, what are 187 00:09:28,960 --> 00:09:31,480 Speaker 1: individual car companies looking to do. You know, even in 188 00:09:31,600 --> 00:09:34,160 Speaker 1: my short time format and I'm coming up on two years, 189 00:09:34,520 --> 00:09:36,800 Speaker 1: you know, General Motors has said they're going fully electric 190 00:09:36,840 --> 00:09:38,680 Speaker 1: by two thousand thirty five. That I don't think there 191 00:09:38,720 --> 00:09:42,400 Speaker 1: were many people predicting that, you know, until the moment 192 00:09:42,440 --> 00:09:46,360 Speaker 1: they announced that. Jaguar in Europe has said they'll be 193 00:09:46,440 --> 00:09:49,679 Speaker 1: fully electric by two thousand twenty five. Um, you know, 194 00:09:49,760 --> 00:09:52,320 Speaker 1: you've got pretty much every car manufacturing in the world 195 00:09:52,320 --> 00:09:55,360 Speaker 1: has either said they're going fully electric and set a deadline, 196 00:09:56,720 --> 00:09:58,839 Speaker 1: or you know they've made a strong commitment to have 197 00:09:58,960 --> 00:10:02,400 Speaker 1: their entire fleet. Yeah, you know a mix of hybrids 198 00:10:02,559 --> 00:10:05,480 Speaker 1: and electrics. So you know, the trends are there and 199 00:10:05,720 --> 00:10:09,160 Speaker 1: they're accelerating, and I think as you see, you know, ultimately, 200 00:10:09,240 --> 00:10:11,800 Speaker 1: if consumers experience a great product, you know they want 201 00:10:11,840 --> 00:10:14,439 Speaker 1: more of it, and the car companies are there to 202 00:10:14,720 --> 00:10:17,800 Speaker 1: serve that demand. And so if I may follow, you 203 00:10:17,840 --> 00:10:21,040 Speaker 1: know how does that translate to the business side for you, 204 00:10:21,320 --> 00:10:26,200 Speaker 1: because if awareness is growing, presumably you've got not just automakers, 205 00:10:26,280 --> 00:10:29,520 Speaker 1: but sort of the broader ecosystem that is embracing this 206 00:10:29,760 --> 00:10:34,480 Speaker 1: movement as it were. Are you seeing a meaningful uptick 207 00:10:34,600 --> 00:10:39,000 Speaker 1: in sponsorship interest or maybe from companies or types of 208 00:10:39,080 --> 00:10:44,600 Speaker 1: companies or categories that that you hadn't seen before. Yes, 209 00:10:44,679 --> 00:10:46,439 Speaker 1: So if you you look at through a couple of 210 00:10:46,480 --> 00:10:49,600 Speaker 1: different lenses, Right, let's start with the fans. Right, if 211 00:10:50,240 --> 00:10:52,760 Speaker 1: if I go back, let me these in our seven seasons, 212 00:10:52,800 --> 00:10:55,959 Speaker 1: we are still a relatively new championship. In the beginning, 213 00:10:56,280 --> 00:10:58,800 Speaker 1: you know, the question was, okay, well can these cars 214 00:10:59,040 --> 00:11:01,880 Speaker 1: go around the track? Who they go fast? Um? You know, 215 00:11:02,120 --> 00:11:05,080 Speaker 1: unless you are a hardcore motorsports fan, you know, are 216 00:11:05,200 --> 00:11:08,160 Speaker 1: you even curious to experience the product? Or perhaps if 217 00:11:08,160 --> 00:11:10,839 Speaker 1: you're hardcore motor support fan, you're you're disdainful of the 218 00:11:10,920 --> 00:11:13,880 Speaker 1: product because you know it doesn't have all the attributes 219 00:11:13,920 --> 00:11:16,679 Speaker 1: you associate with motorsports, right, the smells, the sounds that 220 00:11:17,200 --> 00:11:19,480 Speaker 1: you know, there's a sort of raw horsepower elements that 221 00:11:19,520 --> 00:11:23,200 Speaker 1: people love about, you know, Formula one India or NASCAR. Um, 222 00:11:23,360 --> 00:11:25,719 Speaker 1: what you're seeing now is people recognize that these cars 223 00:11:25,800 --> 00:11:29,199 Speaker 1: are really high performance and that's pulling fans in. And 224 00:11:29,280 --> 00:11:32,400 Speaker 1: I think that's that's the starting point. Then, Um, you 225 00:11:32,480 --> 00:11:35,160 Speaker 1: know we talked about the name factors earlier. I think 226 00:11:35,200 --> 00:11:37,880 Speaker 1: that the biggest shift we've seen, you know, the sponsors. 227 00:11:38,280 --> 00:11:42,160 Speaker 1: To be honest, we're there before because most large global 228 00:11:42,240 --> 00:11:45,520 Speaker 1: companies you know, have a CSR program, have to move 229 00:11:45,600 --> 00:11:49,520 Speaker 1: into UH climate change, recognize that they need at a 230 00:11:49,640 --> 00:11:52,959 Speaker 1: board level platform to talk about sustainability. And I think 231 00:11:53,000 --> 00:11:55,120 Speaker 1: that was actually some of the early success that formerly 232 00:11:55,200 --> 00:11:59,040 Speaker 1: had in terms of attracting rounds, perhaps ahead of where 233 00:11:59,080 --> 00:12:01,679 Speaker 1: the consumer market was. The big shift we've seen in 234 00:12:01,720 --> 00:12:04,800 Speaker 1: the last twelve months eighteen months is the demand on 235 00:12:04,880 --> 00:12:08,400 Speaker 1: the media side, meaning the broadcasters. So in the US 236 00:12:09,000 --> 00:12:13,280 Speaker 1: signed a partnership multi year partnership with CBS to broadcast 237 00:12:13,320 --> 00:12:16,920 Speaker 1: the races, in Germany with with Proceeding and France wially 238 00:12:17,000 --> 00:12:19,200 Speaker 1: keep and for I guess the US listeners. You may 239 00:12:19,240 --> 00:12:23,000 Speaker 1: not know those grants, but those are very digitally led 240 00:12:23,360 --> 00:12:27,120 Speaker 1: media companies in Europe who are disrupting the media landscape 241 00:12:27,520 --> 00:12:30,480 Speaker 1: and and they're attracted to formula why because they see 242 00:12:30,520 --> 00:12:34,120 Speaker 1: that there's advertising dollars around the content because the consumers 243 00:12:34,280 --> 00:12:36,199 Speaker 1: are the consumers they want to target, right that. We 244 00:12:36,280 --> 00:12:38,520 Speaker 1: tend to have a younger fan base, you know, a 245 00:12:38,600 --> 00:12:41,280 Speaker 1: more urban fan base and more digitally sort of minded 246 00:12:41,360 --> 00:12:44,280 Speaker 1: fan base, so their advertisers want to reach that. And 247 00:12:44,400 --> 00:12:47,400 Speaker 1: then of course the car companies themselves are are are 248 00:12:47,480 --> 00:12:53,000 Speaker 1: shifting significant forces of their advertising dollars towards electric mobility 249 00:12:53,320 --> 00:12:56,520 Speaker 1: and and talking about their electric fleet and and you know, 250 00:12:56,600 --> 00:12:58,640 Speaker 1: we're we're a pure play on that, which which is 251 00:12:58,679 --> 00:13:01,839 Speaker 1: appealing to the media companies. Here comes old man bar 252 00:13:02,120 --> 00:13:05,679 Speaker 1: and the die hard racing fan. As you mentioned earlier, 253 00:13:06,280 --> 00:13:08,199 Speaker 1: I think one of the things that's great were the 254 00:13:08,240 --> 00:13:12,040 Speaker 1: many things that's great about Formula E. But this goes 255 00:13:12,160 --> 00:13:15,439 Speaker 1: back that sound that Formula E has. It It's not 256 00:13:15,600 --> 00:13:18,719 Speaker 1: that guttural sound that you used to in NASCAR or 257 00:13:18,800 --> 00:13:21,719 Speaker 1: maybe an indy racing, But this goes back to like 258 00:13:21,960 --> 00:13:28,040 Speaker 1: nineteen sixty seven when Parnelli Jones and the Andy Granitelli 259 00:13:28,120 --> 00:13:32,319 Speaker 1: team had this let's call it the Termine car and 260 00:13:32,679 --> 00:13:34,719 Speaker 1: it was a whoosh that went through you didn't you 261 00:13:34,800 --> 00:13:38,679 Speaker 1: didn't have that sound of the normally aspirated engine. And 262 00:13:38,840 --> 00:13:41,959 Speaker 1: this is pretty much the same way. It's just a 263 00:13:42,000 --> 00:13:44,800 Speaker 1: little more different from the fact that this is totally 264 00:13:44,960 --> 00:13:48,400 Speaker 1: from your charging the battery and these cars have a 265 00:13:48,480 --> 00:13:51,320 Speaker 1: lot of giddy up, as you said, that's right. One 266 00:13:51,400 --> 00:13:54,120 Speaker 1: of the first events I went to when I joined 267 00:13:54,160 --> 00:13:57,200 Speaker 1: Formula in two thousand nineteen was in northern Italy, which 268 00:13:57,280 --> 00:14:00,679 Speaker 1: is which is Ferrari Land, and like getting all these 269 00:14:00,800 --> 00:14:02,960 Speaker 1: questions about you know, the sound, the sound of sound, 270 00:14:03,040 --> 00:14:07,760 Speaker 1: and I said, well, that's the point. I mean, the 271 00:14:07,840 --> 00:14:10,719 Speaker 1: typical motorspoard fan is already really well served, and I 272 00:14:10,760 --> 00:14:13,160 Speaker 1: think that's that's something we should we you know, we're 273 00:14:13,240 --> 00:14:15,840 Speaker 1: very explicit about with Formula. We didn't start a racing 274 00:14:15,920 --> 00:14:19,480 Speaker 1: series because rupt the racing world, right, We started a 275 00:14:19,560 --> 00:14:22,800 Speaker 1: racing series because we saw these trends between you know, 276 00:14:22,880 --> 00:14:26,680 Speaker 1: electric ability, sustainability and using sport to tell those kind 277 00:14:26,720 --> 00:14:30,800 Speaker 1: of narratives. And so you know, we lean into the 278 00:14:30,880 --> 00:14:33,680 Speaker 1: fact that it's it's quiet. Now. Actually they're not quiet, right, 279 00:14:33,720 --> 00:14:35,480 Speaker 1: I mean to to your point where you hear and 280 00:14:35,560 --> 00:14:37,720 Speaker 1: if you ask my my eight year old son, he 281 00:14:37,800 --> 00:14:41,160 Speaker 1: thinks it sounds like Anakin Skywalker speed race, right, or 282 00:14:41,320 --> 00:14:44,240 Speaker 1: or a tie fighter. And it's actually a very cool sound, right, 283 00:14:44,280 --> 00:14:46,440 Speaker 1: it's just a different one. And and I think what 284 00:14:46,520 --> 00:14:50,160 Speaker 1: you're seeing is is it depends who your target audience is. Right, 285 00:14:50,680 --> 00:14:53,760 Speaker 1: We never claim that we're you know, trying to compete 286 00:14:53,760 --> 00:14:57,080 Speaker 1: with a V twelve right in terms of that guttural 287 00:14:57,360 --> 00:15:00,480 Speaker 1: you know feel. But what we do allow is cars 288 00:15:00,520 --> 00:15:03,120 Speaker 1: the racing cities which otherwise wouldn't be possible because of 289 00:15:03,160 --> 00:15:05,400 Speaker 1: those sounds. And you know, we're going to announce, you know, 290 00:15:05,480 --> 00:15:08,000 Speaker 1: we're racing in New York obviously next week we're gonna 291 00:15:08,000 --> 00:15:11,320 Speaker 1: announce another North American city, but that's betraying too much, 292 00:15:11,360 --> 00:15:14,200 Speaker 1: which which used to have an Indian race in the 293 00:15:14,280 --> 00:15:15,800 Speaker 1: middle of the city. And we're gonna be able to 294 00:15:15,840 --> 00:15:18,400 Speaker 1: go there. And we're gonna go there because we don't 295 00:15:18,400 --> 00:15:20,920 Speaker 1: make as much noise. And and that's you know, something 296 00:15:20,960 --> 00:15:23,240 Speaker 1: that I think is really important point around. Uh, you 297 00:15:23,320 --> 00:15:27,400 Speaker 1: know how four Mali differentiates Jamie. How about fan engagement 298 00:15:27,440 --> 00:15:30,480 Speaker 1: Over the last twelve or fifteen months, the fans were 299 00:15:30,480 --> 00:15:32,280 Speaker 1: stuck at home, they couldn't come out and watch any 300 00:15:32,320 --> 00:15:34,240 Speaker 1: of the racist at all. Did it help or or 301 00:15:34,320 --> 00:15:36,960 Speaker 1: hurt fan engagement? Right now as we turned the calendar 302 00:15:37,000 --> 00:15:42,480 Speaker 1: in July, Well, look, there's no doubt that you know, 303 00:15:42,800 --> 00:15:46,560 Speaker 1: it's a major, major, disruption that we've experienced. And because 304 00:15:46,600 --> 00:15:50,240 Speaker 1: we're a younger sport, um, you know, relative to too 305 00:15:50,240 --> 00:15:52,840 Speaker 1: many others, whether it's in in other codes of motor 306 00:15:52,920 --> 00:15:55,360 Speaker 1: sport or or some of the big team sports we 307 00:15:55,440 --> 00:15:59,600 Speaker 1: all know and love. You know, we don't have a 308 00:15:59,760 --> 00:16:01,920 Speaker 1: da so fan base that a lot of those sports have, 309 00:16:02,320 --> 00:16:05,400 Speaker 1: right and so for us, getting people to sample our 310 00:16:05,440 --> 00:16:08,080 Speaker 1: product and simple comes right to come to Brooklyn see 311 00:16:08,120 --> 00:16:10,200 Speaker 1: the race, that's that's how we grow the fan base. 312 00:16:10,320 --> 00:16:12,280 Speaker 1: So you know, we're we're we're trying to grow our 313 00:16:12,320 --> 00:16:16,000 Speaker 1: fan base as opposed to necessarily serve a huge installed base. 314 00:16:16,120 --> 00:16:18,560 Speaker 1: So so not having racing for us has been particularly 315 00:16:18,640 --> 00:16:22,040 Speaker 1: challenging to be candid. That being said, Um, you know, 316 00:16:22,120 --> 00:16:24,600 Speaker 1: we're a seven year old company. We lead with with 317 00:16:24,760 --> 00:16:28,920 Speaker 1: digital products in terms of our website and digital medium, 318 00:16:29,000 --> 00:16:31,240 Speaker 1: social and all these good things, and so you know 319 00:16:31,320 --> 00:16:33,760 Speaker 1: we've been able to continue to engage our fans and 320 00:16:34,360 --> 00:16:36,400 Speaker 1: in that way. And what it's done is is it 321 00:16:36,480 --> 00:16:39,760 Speaker 1: forced us to innovate um on the product side, meaning 322 00:16:40,240 --> 00:16:42,400 Speaker 1: a lot of the ideas that were perhaps on a 323 00:16:42,480 --> 00:16:44,840 Speaker 1: white board or sitting on a shelf and and hadn't 324 00:16:44,880 --> 00:16:47,760 Speaker 1: necessarily been the top three priority when we were racing 325 00:16:47,840 --> 00:16:51,440 Speaker 1: with fans suddenly went straight up the the list. And 326 00:16:51,800 --> 00:16:54,400 Speaker 1: you know, we launched Race at Home last year, which 327 00:16:54,480 --> 00:16:58,240 Speaker 1: is our our our e sports series. We've launched new 328 00:16:58,320 --> 00:17:01,400 Speaker 1: digital properties, and we're doing a lot with our teams 329 00:17:01,440 --> 00:17:04,879 Speaker 1: and partners around e commerce and whatnot. So what it 330 00:17:05,000 --> 00:17:06,560 Speaker 1: is done, and I think I think you'll see this 331 00:17:06,680 --> 00:17:09,200 Speaker 1: from a lot of other sports properties as well, is 332 00:17:09,560 --> 00:17:12,720 Speaker 1: it's really accelerated the innovation curve um, you know, out 333 00:17:12,760 --> 00:17:15,840 Speaker 1: of necessity, and and that's that'll be something I think 334 00:17:15,840 --> 00:17:19,000 Speaker 1: we'll be able to harvest over time. So Jamie, you know, 335 00:17:19,359 --> 00:17:21,920 Speaker 1: I gotta ask you, this was a tough year for 336 00:17:22,040 --> 00:17:24,280 Speaker 1: businesses of all shapes and sizes. I mean, I think 337 00:17:24,280 --> 00:17:29,760 Speaker 1: about here in New York, restaurants and fitness studios and 338 00:17:30,600 --> 00:17:34,800 Speaker 1: media companies, all you name it. I mean, everybody struggled, 339 00:17:34,960 --> 00:17:39,280 Speaker 1: and especially because revenues were down. If you were able 340 00:17:39,359 --> 00:17:41,119 Speaker 1: to put on your business, you were doing it in 341 00:17:41,400 --> 00:17:45,640 Speaker 1: a limited way. As you mentioned earlier, as you alluded 342 00:17:45,680 --> 00:17:49,280 Speaker 1: to is a pretty young enterprise that that you're a 343 00:17:49,400 --> 00:17:51,760 Speaker 1: part of. How tough was it? I mean, were their 344 00:17:51,800 --> 00:17:54,680 Speaker 1: decisions you had to make in terms of either scaling 345 00:17:54,760 --> 00:17:59,960 Speaker 1: back temporarily ambitions or you know, kind of making change 346 00:18:00,000 --> 00:18:04,000 Speaker 1: ages to the to the broader roadmap as it were, 347 00:18:06,840 --> 00:18:11,880 Speaker 1: well when the pandemic started, or when people really reckon 348 00:18:12,000 --> 00:18:14,119 Speaker 1: with the fact that we're going to pandemic last April. 349 00:18:14,440 --> 00:18:16,760 Speaker 1: You know, we're in the automotive industry and the live 350 00:18:16,840 --> 00:18:19,119 Speaker 1: events business that we're in a lot of a lot 351 00:18:19,119 --> 00:18:20,360 Speaker 1: of events and there we're in a lot of cars 352 00:18:20,440 --> 00:18:24,200 Speaker 1: being sold, and so our stakeholders, right, our teams are manufacturers. 353 00:18:24,600 --> 00:18:27,439 Speaker 1: You know that was those were some some really dark moments, right, 354 00:18:27,480 --> 00:18:28,879 Speaker 1: and we said, you know, how are we going to 355 00:18:28,920 --> 00:18:31,200 Speaker 1: be able to continue to put our product on and 356 00:18:31,720 --> 00:18:34,159 Speaker 1: the good news for performing the yield though we're a 357 00:18:34,280 --> 00:18:37,399 Speaker 1: young company and you know, smaller relative to you know, 358 00:18:37,480 --> 00:18:41,479 Speaker 1: other other global sports you know are controlling shareholders are 359 00:18:41,640 --> 00:18:45,160 Speaker 1: are Liberty Media and Discovery. So we've got big, big 360 00:18:45,240 --> 00:18:47,680 Speaker 1: media companies who are behind us for the long term. 361 00:18:48,040 --> 00:18:50,960 Speaker 1: And what we agreed very early on was, you know, 362 00:18:51,040 --> 00:18:53,400 Speaker 1: we have to continue to invest to deliver our product 363 00:18:53,800 --> 00:18:56,680 Speaker 1: to survive, right and then that you know, you have 364 00:18:56,760 --> 00:18:58,560 Speaker 1: a bit of a paradox there where you know, if 365 00:18:58,600 --> 00:19:00,640 Speaker 1: you if you hunker down too much, you know, your 366 00:19:00,680 --> 00:19:03,080 Speaker 1: your product disappears, right and then that's why this year 367 00:19:03,440 --> 00:19:05,280 Speaker 1: we managed to you know, we're going to manage to 368 00:19:05,320 --> 00:19:07,440 Speaker 1: go to about ten or eleven different venues and put 369 00:19:07,520 --> 00:19:11,280 Speaker 1: on a fifteen race calendar, which is actually more racism 370 00:19:11,400 --> 00:19:14,000 Speaker 1: we've ever put on. And why how did we do that? 371 00:19:14,040 --> 00:19:16,280 Speaker 1: But we did more doubleheaders. So I'll use a really 372 00:19:16,320 --> 00:19:20,280 Speaker 1: simple example with doubleheaders. Um, you know, typically motorsport has 373 00:19:20,359 --> 00:19:23,040 Speaker 1: one race over a race weekend, right, I mean you've 374 00:19:23,040 --> 00:19:27,639 Speaker 1: got the n D five hundred, that's an iconic race, Monaco, etcetera. UM, 375 00:19:27,880 --> 00:19:29,760 Speaker 1: we said, well, you know, let's try to be efficient here. 376 00:19:29,840 --> 00:19:31,439 Speaker 1: We're gonna go into a country, we're gonna get all 377 00:19:31,480 --> 00:19:33,800 Speaker 1: those approvals. You know, why don't we have two races, 378 00:19:33,880 --> 00:19:35,520 Speaker 1: one on Saturday and one on Sunday. And you know, 379 00:19:35,600 --> 00:19:37,920 Speaker 1: if you're if you're a fan of baseball, like that's 380 00:19:37,960 --> 00:19:40,840 Speaker 1: pretty common, right, you've got a home homestand or something 381 00:19:40,960 --> 00:19:44,960 Speaker 1: like that. Um. Initially the reaction within the motor sport 382 00:19:44,960 --> 00:19:47,520 Speaker 1: world was why why are we going to do two races? 383 00:19:47,640 --> 00:19:49,639 Speaker 1: That's just not motor sport. And actually what we found 384 00:19:49,720 --> 00:19:52,080 Speaker 1: is the fans like it because you know, there's back 385 00:19:52,160 --> 00:19:54,840 Speaker 1: to back days. They know when to tune in, they know, uh, 386 00:19:55,240 --> 00:19:57,359 Speaker 1: you know, depending on what happens on the Saturday, you know, 387 00:19:57,440 --> 00:20:00,480 Speaker 1: there's built some excitement for the Sunday race. So that's 388 00:20:00,520 --> 00:20:03,120 Speaker 1: a simple example where we wouldn't have had a plan 389 00:20:03,240 --> 00:20:06,080 Speaker 1: to do more double headers, but actually, because of the 390 00:20:06,160 --> 00:20:09,040 Speaker 1: forcing factor of COVID, we've done them, and actually we 391 00:20:09,080 --> 00:20:10,960 Speaker 1: really like them. And so as I look to the future, 392 00:20:11,359 --> 00:20:13,120 Speaker 1: you know, we want to have probably an eighteen raised 393 00:20:13,160 --> 00:20:16,959 Speaker 1: calendar going into two thousands twenty three, and one way 394 00:20:17,040 --> 00:20:18,600 Speaker 1: to get there is to do more double headers. So 395 00:20:18,640 --> 00:20:20,159 Speaker 1: you go into a city and you have more of 396 00:20:20,240 --> 00:20:22,879 Speaker 1: a festival field, so when fans are back, there'll be 397 00:20:22,960 --> 00:20:25,879 Speaker 1: more activations, perhaps a concerts the night before, so we 398 00:20:25,960 --> 00:20:29,080 Speaker 1: can reimagine the complexion of our product um. And then 399 00:20:29,119 --> 00:20:31,200 Speaker 1: the second thing, just quickly is, you know, we have 400 00:20:31,359 --> 00:20:33,760 Speaker 1: Genlee coming, what we call Gen three, which is the 401 00:20:33,800 --> 00:20:36,600 Speaker 1: third generation of the car, and you know, it's a 402 00:20:36,720 --> 00:20:40,359 Speaker 1: very significant investment for our teams and the manufacturers, and 403 00:20:41,520 --> 00:20:43,560 Speaker 1: we were trying to convince all of them to make 404 00:20:43,640 --> 00:20:46,679 Speaker 1: that investment. You know, in the middle of two one, 405 00:20:47,040 --> 00:20:49,280 Speaker 1: you're making six year plans where you don't know, you know, 406 00:20:49,359 --> 00:20:53,320 Speaker 1: what the future looks like in six weeks. That added someplexity. 407 00:20:53,400 --> 00:20:55,479 Speaker 1: But again, what we did then is he said, okay, well, 408 00:20:55,480 --> 00:20:58,159 Speaker 1: how do we make the sports sustainable for our teams 409 00:20:58,240 --> 00:21:01,639 Speaker 1: and for everyone involved, and been working really closely with 410 00:21:01,720 --> 00:21:03,600 Speaker 1: our governing body to put in place a cost cap 411 00:21:03,920 --> 00:21:06,239 Speaker 1: or or I guess in U sports looks known as 412 00:21:06,240 --> 00:21:08,119 Speaker 1: a salary cap. For us, it's more about how much 413 00:21:08,200 --> 00:21:11,159 Speaker 1: the teams spend on developing the car. Again, this is 414 00:21:11,200 --> 00:21:13,840 Speaker 1: something that was unheard of in motor sports, right, I mean, 415 00:21:13,880 --> 00:21:17,840 Speaker 1: typically motor sports has has either been um an investment 416 00:21:18,320 --> 00:21:21,000 Speaker 1: or individuals who are excited to go racing, or or 417 00:21:21,119 --> 00:21:24,560 Speaker 1: for manufacturers who have perhaps have deeper budgets. When those 418 00:21:24,680 --> 00:21:27,840 Speaker 1: factors changed, suddenly we had the ability to bring in 419 00:21:27,920 --> 00:21:29,879 Speaker 1: a cost cap, which you know, it's not signed yet 420 00:21:29,920 --> 00:21:31,639 Speaker 1: but I'm hopeful we'll get that done in time for 421 00:21:31,680 --> 00:21:34,960 Speaker 1: two thousand twenty two. And that just changes the financial 422 00:21:35,320 --> 00:21:38,440 Speaker 1: sustainability of the sport. And you know, ultimately, you know, 423 00:21:38,480 --> 00:21:42,040 Speaker 1: whether you're manufacturer like Poors, or whether you're an independent 424 00:21:42,080 --> 00:21:46,200 Speaker 1: owner like Michael Andretti or or j Pensky who owned 425 00:21:46,240 --> 00:21:48,159 Speaker 1: teams in formula, you want to be able to make 426 00:21:48,200 --> 00:21:51,399 Speaker 1: a return. And so this is curring into along one 427 00:21:51,440 --> 00:21:54,240 Speaker 1: a day to your question. But in simple terms, there's 428 00:21:54,240 --> 00:21:56,840 Speaker 1: been enforcing factors that have allowed us to, I believe, 429 00:21:56,920 --> 00:22:00,280 Speaker 1: set up, you know, stronger foundations for the future because 430 00:22:00,320 --> 00:22:05,440 Speaker 1: of the pandemic. One thing that's great about your entire series. 431 00:22:05,800 --> 00:22:10,119 Speaker 1: First of all, you're bringing a lot of business to 432 00:22:10,480 --> 00:22:14,840 Speaker 1: every area where you race, and I'm sure all the 433 00:22:14,960 --> 00:22:21,040 Speaker 1: local restaurants all over the world appreciate that, including the vendors. 434 00:22:21,080 --> 00:22:23,160 Speaker 1: Can you expand more and that you mentioned something about 435 00:22:23,200 --> 00:22:27,520 Speaker 1: that earlier, but can you expand more on that? Right? 436 00:22:27,840 --> 00:22:30,880 Speaker 1: I mean? Formulaly is sort of on the one hand, 437 00:22:31,440 --> 00:22:35,160 Speaker 1: this global business which attracts some of the biggest car 438 00:22:35,240 --> 00:22:37,800 Speaker 1: manufacturers and some of our sponsores or some of the 439 00:22:37,840 --> 00:22:41,480 Speaker 1: big global brands that are household names, and you know, 440 00:22:41,560 --> 00:22:45,880 Speaker 1: we operate on a on a global context in from 441 00:22:45,880 --> 00:22:48,720 Speaker 1: a marketing and promotional perspective. On the other hand, we 442 00:22:49,080 --> 00:22:52,880 Speaker 1: very much go into a city and although the race 443 00:22:53,000 --> 00:22:56,440 Speaker 1: we can may only occur on Saturday and Sunday, we 444 00:22:56,520 --> 00:22:59,439 Speaker 1: actually come into the city usually about a month before 445 00:23:00,000 --> 00:23:02,440 Speaker 1: and start building the race track and start working with 446 00:23:02,480 --> 00:23:07,560 Speaker 1: the local authorities, and so it's a pretty integrated activity. 447 00:23:07,800 --> 00:23:10,399 Speaker 1: And you know, when we go into a city, we 448 00:23:10,520 --> 00:23:13,320 Speaker 1: like to have a big economic impact as well as 449 00:23:13,359 --> 00:23:16,560 Speaker 1: a sustainability impact. So you know, we invest in example, 450 00:23:16,600 --> 00:23:18,960 Speaker 1: on the sustainability side, in each market we race and 451 00:23:19,080 --> 00:23:22,160 Speaker 1: we invest in a renewable energy project to be able 452 00:23:22,160 --> 00:23:25,480 Speaker 1: to offset all the carbon emissions that we uh do 453 00:23:26,119 --> 00:23:28,720 Speaker 1: traveling to or operating the event. Right, So we're trying 454 00:23:28,760 --> 00:23:32,320 Speaker 1: to call race with no trace in simple terms, you know, 455 00:23:32,400 --> 00:23:35,560 Speaker 1: having a zero carbon footprint. Equally, we go into the 456 00:23:35,640 --> 00:23:38,439 Speaker 1: cities and you know, we have an economic impact, right, 457 00:23:38,680 --> 00:23:41,960 Speaker 1: And I'll use an example in Mexico. Typically we would 458 00:23:42,000 --> 00:23:44,200 Speaker 1: race in Mexico City. We couldn't do that because the 459 00:23:44,600 --> 00:23:47,359 Speaker 1: hormonous would you guys be The main track in Mexico 460 00:23:47,440 --> 00:23:50,919 Speaker 1: City was a COVID hospital and vaccination centers. We couldn't 461 00:23:50,960 --> 00:23:54,440 Speaker 1: race there. This year we went to Puebla, a city 462 00:23:54,520 --> 00:23:57,080 Speaker 1: that you know, maybe some Americans know, but certainly very 463 00:23:57,119 --> 00:23:59,160 Speaker 1: few Europeans knew what it was when we announced we're 464 00:23:59,160 --> 00:24:01,800 Speaker 1: going there. It was the first international sports event the 465 00:24:01,880 --> 00:24:06,680 Speaker 1: publet had since the World Cup um and you know, 466 00:24:07,119 --> 00:24:10,040 Speaker 1: the local people. We actually hosted about ten thousand fans, 467 00:24:10,160 --> 00:24:12,680 Speaker 1: and you know, we actually gave the tickets away to 468 00:24:13,040 --> 00:24:16,440 Speaker 1: local health workers and the local community to see the 469 00:24:16,520 --> 00:24:19,240 Speaker 1: look on their faces, you know, as as our paddock, 470 00:24:19,280 --> 00:24:21,560 Speaker 1: if you will, as our group was going out to 471 00:24:21,680 --> 00:24:24,000 Speaker 1: local restaurants in Mexico. To be able to put them 472 00:24:24,040 --> 00:24:25,320 Speaker 1: on the map and to be able to have an 473 00:24:25,320 --> 00:24:29,760 Speaker 1: impact was was pretty pretty moving and pretty powerful, Jamie. 474 00:24:30,000 --> 00:24:32,040 Speaker 1: From what I understand, the battery life is forty five 475 00:24:32,080 --> 00:24:37,119 Speaker 1: minutes UH for vehicle. Um, do you see that increase? 476 00:24:37,680 --> 00:24:40,280 Speaker 1: Go ahead, go ahead? So for forty five minutes? Is 477 00:24:40,320 --> 00:24:44,920 Speaker 1: that correct? Well, so the battery capacity is fifty four 478 00:24:45,000 --> 00:24:48,720 Speaker 1: killer lots, which roughly translates to a race of about 479 00:24:48,760 --> 00:24:52,280 Speaker 1: forty five minutes UM based on you know, maximizing the 480 00:24:52,400 --> 00:24:55,920 Speaker 1: energy efficiency and usage. And what we're looking to do 481 00:24:56,040 --> 00:24:59,040 Speaker 1: over time is to try to expand that right, um, 482 00:24:59,720 --> 00:25:02,280 Speaker 1: the you know, we could have a much longer race 483 00:25:02,359 --> 00:25:04,280 Speaker 1: with a much bigger battery and a heavier car. What 484 00:25:04,359 --> 00:25:07,399 Speaker 1: we're doing in gen free is actually the battery gets smaller, 485 00:25:07,480 --> 00:25:10,160 Speaker 1: the technology advances, the battery gets smaller. It's a hundred 486 00:25:10,240 --> 00:25:13,480 Speaker 1: kilos or two hundred twenty pounds lighter UM, which is 487 00:25:13,520 --> 00:25:18,560 Speaker 1: pretty significant. And and and the power train is going 488 00:25:18,600 --> 00:25:22,800 Speaker 1: from three lots in American terms, that's that's north of 489 00:25:22,840 --> 00:25:26,760 Speaker 1: four hundred horsepower so you know, I'm not a race engineer, 490 00:25:26,800 --> 00:25:29,160 Speaker 1: but in simple terms, the car gets a hundred twohundred 491 00:25:29,200 --> 00:25:31,920 Speaker 1: twenty pounds lighter and it gains a hundred horsepower. That 492 00:25:32,000 --> 00:25:36,439 Speaker 1: means it goes a lot faster. So we're pretty excited 493 00:25:36,440 --> 00:25:38,680 Speaker 1: about what that means to the gen free race product. 494 00:25:38,920 --> 00:25:43,320 Speaker 1: So we're always balancing um, two things, right, performance and 495 00:25:43,480 --> 00:25:45,879 Speaker 1: and sort of the excitement of speed, which is obviously 496 00:25:45,880 --> 00:25:48,119 Speaker 1: a big component of motorsport. And then also from a 497 00:25:48,200 --> 00:25:51,520 Speaker 1: manufacturer perspective, the range, right, how long can the can 498 00:25:51,560 --> 00:25:54,800 Speaker 1: the battery last? Um? And that's probably the last remaining 499 00:25:55,400 --> 00:25:57,919 Speaker 1: point of anxiety right for people who are picking up, 500 00:25:58,040 --> 00:26:00,520 Speaker 1: you know, making a decision on electric car. So you 501 00:26:00,560 --> 00:26:02,320 Speaker 1: know we're going to look at put pushing the range 502 00:26:02,320 --> 00:26:04,960 Speaker 1: as well into gent free. So, Jamie, as we wrap 503 00:26:05,080 --> 00:26:07,920 Speaker 1: up here, I do have to ask you, because you're 504 00:26:08,680 --> 00:26:11,600 Speaker 1: your career is fascinating, I think to all of us 505 00:26:11,720 --> 00:26:15,560 Speaker 1: having worked in major sports in sort of the major sports, 506 00:26:15,560 --> 00:26:18,960 Speaker 1: American football with the Rams and English football with with 507 00:26:19,160 --> 00:26:23,320 Speaker 1: Man You we talked about the Formula E fan what 508 00:26:23,480 --> 00:26:25,760 Speaker 1: a year it's been for fans in many ways, and 509 00:26:25,880 --> 00:26:28,000 Speaker 1: I have to think that you have been looking at 510 00:26:28,080 --> 00:26:31,280 Speaker 1: this with a more studied eye than most. What did 511 00:26:31,359 --> 00:26:34,679 Speaker 1: we learn generally about fans? And I think about Super 512 00:26:34,800 --> 00:26:38,480 Speaker 1: League and I think about you know, all the engagement 513 00:26:38,600 --> 00:26:42,119 Speaker 1: that we've seen across the world, what do you make 514 00:26:42,200 --> 00:26:47,600 Speaker 1: of it? Well, first of all, I think, you know, 515 00:26:48,200 --> 00:26:51,760 Speaker 1: you have to remember whether you're an established sport with 516 00:26:52,440 --> 00:26:54,600 Speaker 1: more than a hundred years in history, or whether you're 517 00:26:54,680 --> 00:26:57,639 Speaker 1: Formula with seven or someone with an idea for a 518 00:26:57,720 --> 00:27:00,800 Speaker 1: new sport that's coming up right now, it starts and 519 00:27:00,960 --> 00:27:03,440 Speaker 1: ends of the fan, right, And you have to think 520 00:27:03,480 --> 00:27:07,560 Speaker 1: about any change you make through the lens of your customer, 521 00:27:08,280 --> 00:27:11,080 Speaker 1: and whether it's a sport or or a consumer business. 522 00:27:11,640 --> 00:27:13,760 Speaker 1: You know, you need to think about the customer and 523 00:27:13,840 --> 00:27:17,240 Speaker 1: look after your customer. And when I look at what 524 00:27:17,359 --> 00:27:19,960 Speaker 1: we've tried to do in Formula over the last twelve months, 525 00:27:20,480 --> 00:27:23,360 Speaker 1: everything is done through the lens of you know, what's 526 00:27:23,359 --> 00:27:25,439 Speaker 1: going to be attractive to the fans. We talked earlier 527 00:27:25,480 --> 00:27:29,000 Speaker 1: about the battery capacity, right, I mean is that really 528 00:27:29,119 --> 00:27:31,639 Speaker 1: interesting to a to a sports fan right now? I 529 00:27:31,680 --> 00:27:34,280 Speaker 1: mean you're coming to a race, you're coming to an 530 00:27:34,320 --> 00:27:36,080 Speaker 1: event for for a bit of a release. You want 531 00:27:36,080 --> 00:27:39,480 Speaker 1: to see some entertainment. The beauty of sport is is 532 00:27:39,520 --> 00:27:42,200 Speaker 1: it's the pinnacle of human endeavor, right, pushing the boundaries, 533 00:27:42,280 --> 00:27:47,040 Speaker 1: pushing the the art of the possible. Uh, you know, 534 00:27:47,160 --> 00:27:49,680 Speaker 1: in the eyes of what humans can do it. And 535 00:27:49,840 --> 00:27:52,440 Speaker 1: so yes, there's some engineering elements about that, but ultimately 536 00:27:52,480 --> 00:27:54,119 Speaker 1: we look at it and we say, Okay, how do 537 00:27:54,200 --> 00:27:56,439 Speaker 1: we make the race exciting for the fans? Because if 538 00:27:56,480 --> 00:27:59,959 Speaker 1: we don't do that, there's no amount of interesting technolo 539 00:28:00,000 --> 00:28:02,880 Speaker 1: oology storytelling that you can do that's going to pull 540 00:28:02,960 --> 00:28:04,879 Speaker 1: people in. And then you know, you touched on the 541 00:28:04,960 --> 00:28:07,800 Speaker 1: Super League, you know, and there's been a lot of 542 00:28:07,840 --> 00:28:10,560 Speaker 1: comment about that. I would say, just generally speaking, right, 543 00:28:10,640 --> 00:28:12,280 Speaker 1: I mean you have to really think about, Okay, what 544 00:28:12,400 --> 00:28:15,240 Speaker 1: does the just the consumer want, what's the demand? What 545 00:28:15,359 --> 00:28:19,359 Speaker 1: does the fan expect? And you know, are you presenting 546 00:28:19,440 --> 00:28:22,399 Speaker 1: a more compelling proposition or not? And I think it 547 00:28:22,600 --> 00:28:25,800 Speaker 1: makes you don't you don't have a laser focus on 548 00:28:25,880 --> 00:28:28,960 Speaker 1: the consumer proposition, You're going to struggle and fans are 549 00:28:29,080 --> 00:28:32,600 Speaker 1: very vocal, uh, and fans are very engaged and they 550 00:28:32,680 --> 00:28:35,080 Speaker 1: care a lot about these products, right, I mean, that's 551 00:28:35,200 --> 00:28:38,240 Speaker 1: that's what sports is. It's it's that passion, sometimes a 552 00:28:38,400 --> 00:28:41,760 Speaker 1: rational passion and love for a brand for their team, 553 00:28:42,120 --> 00:28:47,280 Speaker 1: and you have to be wholeheartedly respectful about that because 554 00:28:47,280 --> 00:28:50,960 Speaker 1: it's a sacrisente relationship. All right. Well, it's been really 555 00:28:51,040 --> 00:28:54,200 Speaker 1: good catching up with you, especially uh in a very 556 00:28:54,280 --> 00:28:57,320 Speaker 1: very busy time as you are prepping for this big 557 00:28:57,480 --> 00:29:00,320 Speaker 1: race right here in our backyard. So good luck, great 558 00:29:00,320 --> 00:29:02,200 Speaker 1: to catch up with you. Happy to catch up with you. 559 00:29:02,280 --> 00:29:04,480 Speaker 1: We talked about we were talking before we came on 560 00:29:04,560 --> 00:29:06,440 Speaker 1: air about a year ago. You were in Hong Kong 561 00:29:06,520 --> 00:29:09,200 Speaker 1: at the time, we were very much in the getting 562 00:29:09,240 --> 00:29:11,840 Speaker 1: into the teeth of this pandemic. So um, happy to 563 00:29:11,920 --> 00:29:14,080 Speaker 1: be on the other side of that. And uh, here's 564 00:29:14,120 --> 00:29:16,760 Speaker 1: to a really good race in New York and beyond 565 00:29:16,840 --> 00:29:19,680 Speaker 1: as you map out the calendar for this season and next. 566 00:29:21,960 --> 00:29:23,880 Speaker 1: Thanks very much, it was it was great to be 567 00:29:24,000 --> 00:29:26,680 Speaker 1: on And yes, I remember that call in Hong Kong 568 00:29:26,760 --> 00:29:28,280 Speaker 1: and we all thought maybe this will be a couple 569 00:29:28,280 --> 00:29:32,160 Speaker 1: of months. So very much looking forward to the back 570 00:29:32,240 --> 00:29:34,440 Speaker 1: of the pandemic and and I guess more importantly in 571 00:29:34,480 --> 00:29:35,920 Speaker 1: the near term, can't wait to get to New York. 572 00:29:36,040 --> 00:29:38,560 Speaker 1: So thanks so much for having me. Well, we're delighted 573 00:29:38,600 --> 00:29:41,200 Speaker 1: to be talking with Michael Andretti and and the timeliness 574 00:29:41,240 --> 00:29:46,840 Speaker 1: around this is terrific. Given Formulaly coming to New York again, 575 00:29:47,240 --> 00:29:50,160 Speaker 1: it feels a little bit more normal. We're gonna have 576 00:29:50,440 --> 00:29:53,239 Speaker 1: fans in the stands. It's all happening, and it's such 577 00:29:53,280 --> 00:29:57,000 Speaker 1: an interesting moment too for the whole Formula product. Michael, 578 00:29:57,040 --> 00:29:59,480 Speaker 1: really good to have you with us. Tell us about 579 00:29:59,560 --> 00:30:02,760 Speaker 1: Formula E from your perspective as someone who you know, 580 00:30:03,080 --> 00:30:06,040 Speaker 1: literally knows more about the racing world than almost anyone 581 00:30:06,120 --> 00:30:09,680 Speaker 1: on the planet. I don't know about that, but uh 582 00:30:10,240 --> 00:30:13,480 Speaker 1: now it's uh, it's been a great program. Um, it's 583 00:30:13,520 --> 00:30:18,320 Speaker 1: really been fun to be in the program that with 584 00:30:18,480 --> 00:30:21,480 Speaker 1: a new technology. We've been in since you know, the 585 00:30:21,600 --> 00:30:24,640 Speaker 1: ground floor, and and to see how far it's come 586 00:30:24,720 --> 00:30:28,440 Speaker 1: in just a few years has been really pretty pretty exciting. 587 00:30:28,560 --> 00:30:31,520 Speaker 1: You know. It's a you know, we've gone from a 588 00:30:32,360 --> 00:30:35,560 Speaker 1: car back about six, six or seven years ago that 589 00:30:36,040 --> 00:30:39,160 Speaker 1: I couldn't even run the full distance an hour running 590 00:30:39,200 --> 00:30:42,200 Speaker 1: almost you know, two hundred more horsepower, and we're going 591 00:30:42,280 --> 00:30:45,400 Speaker 1: a full distance you know with the race. So, UM, 592 00:30:45,720 --> 00:30:48,760 Speaker 1: it's been cool to see that, you know, that technology 593 00:30:48,920 --> 00:30:51,920 Speaker 1: developed and be a part of it. It seems like 594 00:30:52,280 --> 00:30:55,920 Speaker 1: now with the the E racing is that the term 595 00:30:56,360 --> 00:30:59,840 Speaker 1: carbure reader is now a thing of the past. Actually, 596 00:31:00,040 --> 00:31:02,200 Speaker 1: I just this has got to be the future of 597 00:31:02,240 --> 00:31:06,080 Speaker 1: the way things are going to be down the road. Well, 598 00:31:06,120 --> 00:31:07,760 Speaker 1: it could be, it would be. You know, I don't 599 00:31:07,800 --> 00:31:10,520 Speaker 1: know where it's going to go with you know, in 600 00:31:10,640 --> 00:31:14,840 Speaker 1: the end, um, but I know electrics getting stronger and stronger. Um. 601 00:31:15,000 --> 00:31:17,760 Speaker 1: You know, they are all other alternative fuels out there, 602 00:31:17,840 --> 00:31:20,720 Speaker 1: like hydrogen and things like that. But you know where 603 00:31:20,720 --> 00:31:23,440 Speaker 1: it's going to go. Uh, I don't know a hundred percent, 604 00:31:23,520 --> 00:31:25,520 Speaker 1: but I would say at the moment, you know, electric 605 00:31:25,560 --> 00:31:29,920 Speaker 1: seems to be definitely leading the way. Hey, Mike, Michael 606 00:31:29,920 --> 00:31:32,960 Speaker 1: looks Mike lunch up in Boston. How much pressure has 607 00:31:33,600 --> 00:31:36,800 Speaker 1: your last name put on you? Uh in your current 608 00:31:36,920 --> 00:31:41,000 Speaker 1: venture in your career? Um? Well, I think when I 609 00:31:41,080 --> 00:31:43,200 Speaker 1: started out, and you know, when I was driving the 610 00:31:43,320 --> 00:31:45,760 Speaker 1: first part of my career, there was a lot of pressure. 611 00:31:45,920 --> 00:31:49,000 Speaker 1: You know, people expected a lot out of you. You know, 612 00:31:49,240 --> 00:31:51,240 Speaker 1: you you go out and you have a good day 613 00:31:51,280 --> 00:31:53,760 Speaker 1: and you finished second or third and they asked what happened, 614 00:31:53,800 --> 00:31:56,200 Speaker 1: you know, take things and uh, you know it was 615 00:31:56,960 --> 00:31:58,720 Speaker 1: you know, it was it was tough starting out, but 616 00:31:58,800 --> 00:32:02,000 Speaker 1: I think it actually help me when I really you know, 617 00:32:02,480 --> 00:32:04,920 Speaker 1: got into the big leagues because I learned to deal 618 00:32:04,960 --> 00:32:07,600 Speaker 1: with pressure at an early age. And uh, you know, 619 00:32:07,800 --> 00:32:10,800 Speaker 1: but uh, you know, it was always it was all 620 00:32:11,000 --> 00:32:13,840 Speaker 1: part of it. You know, there's pluses and minuses to everything, right, 621 00:32:16,120 --> 00:32:19,840 Speaker 1: And so it's interesting too, Michael, to to think about 622 00:32:19,920 --> 00:32:22,240 Speaker 1: the arc of your career and sort of where you 623 00:32:22,320 --> 00:32:25,760 Speaker 1: are now and and putting together this portfolio, of which 624 00:32:25,840 --> 00:32:29,240 Speaker 1: Formula E is really but a part. How do you 625 00:32:29,640 --> 00:32:32,160 Speaker 1: sort of build that? How did you sort of build that? 626 00:32:32,320 --> 00:32:38,200 Speaker 1: And what's your what's kind of the overriding vision for it? Well? Yeah, 627 00:32:38,240 --> 00:32:40,479 Speaker 1: I mean when I first bought the team here, when 628 00:32:40,560 --> 00:32:42,880 Speaker 1: it was called Team Green, you know, I was driving 629 00:32:42,960 --> 00:32:45,240 Speaker 1: for the team and it had a really good base 630 00:32:45,360 --> 00:32:48,240 Speaker 1: of really good people, and uh, you know we just 631 00:32:48,360 --> 00:32:51,360 Speaker 1: slowly just built on that, and uh you know, that's 632 00:32:51,480 --> 00:32:54,160 Speaker 1: that's what it's about, you know, building your base of 633 00:32:54,280 --> 00:32:56,840 Speaker 1: people that you can trust and know that can get 634 00:32:56,880 --> 00:32:59,080 Speaker 1: the job done. And you know, that's what we've been 635 00:32:59,120 --> 00:33:01,960 Speaker 1: able to do. And we always have our eye out 636 00:33:02,120 --> 00:33:06,040 Speaker 1: for new ventures. Um, you know, we're not we're we're 637 00:33:06,680 --> 00:33:08,880 Speaker 1: people used to think we're just indy car racing, but 638 00:33:09,040 --> 00:33:12,720 Speaker 1: we're you know, we're all racing whatever, you know, whatever 639 00:33:12,760 --> 00:33:15,840 Speaker 1: it could work and fit into our program, we're going 640 00:33:15,880 --> 00:33:18,880 Speaker 1: to look at, you know, and we're constantly looking at 641 00:33:19,160 --> 00:33:21,440 Speaker 1: different things. You know, we're looking at sports cars and 642 00:33:21,880 --> 00:33:24,640 Speaker 1: other types of racing as well, hopefully get back into 643 00:33:25,400 --> 00:33:28,320 Speaker 1: the rally cross and things like that. So yeah, we're 644 00:33:29,040 --> 00:33:32,680 Speaker 1: we're always open for something new, and uh, you know, 645 00:33:33,720 --> 00:33:35,800 Speaker 1: that's been sort of exciting to be able to be 646 00:33:35,920 --> 00:33:39,520 Speaker 1: in all different types of racing. You know, you learn 647 00:33:39,560 --> 00:33:43,080 Speaker 1: a lot from different types and it helps it helps 648 00:33:43,440 --> 00:33:47,000 Speaker 1: all of them, you know, the overall of the team, 649 00:33:47,200 --> 00:33:48,840 Speaker 1: you know, because there's things you can learn in one 650 00:33:48,920 --> 00:33:50,960 Speaker 1: side that can help the other and things like that. 651 00:33:51,160 --> 00:33:54,280 Speaker 1: So it's been it's been a lot of fun. Well, 652 00:33:54,640 --> 00:33:56,680 Speaker 1: if if you can't tell us a bit more about that, 653 00:33:56,800 --> 00:33:59,880 Speaker 1: I'm fascinated by that notion of you know, learning across 654 00:34:00,000 --> 00:34:03,720 Speaker 1: the different modalities as it were. Is that in terms 655 00:34:03,800 --> 00:34:08,280 Speaker 1: of technique, is it in terms of sponsorship and business 656 00:34:08,320 --> 00:34:10,560 Speaker 1: and operations? Is it? Is it all of the above? 657 00:34:10,719 --> 00:34:12,880 Speaker 1: Is there is there something that jumps to mind when 658 00:34:12,960 --> 00:34:15,840 Speaker 1: you think about that. I think it's all of the above, 659 00:34:16,320 --> 00:34:20,080 Speaker 1: you know. I think you know, there's deals like with sponsors, 660 00:34:20,120 --> 00:34:22,400 Speaker 1: you can spread you can give. You can offer them 661 00:34:22,480 --> 00:34:26,560 Speaker 1: different types of racing. Um. Some choose to do you know, 662 00:34:26,640 --> 00:34:29,719 Speaker 1: more than one, some shoose to do all of them, 663 00:34:29,840 --> 00:34:32,560 Speaker 1: some choose to do just one. So it's nice to 664 00:34:32,640 --> 00:34:36,239 Speaker 1: have that to offer, um. But then you also have 665 00:34:36,440 --> 00:34:39,200 Speaker 1: you know, procedures are different in one series to another. 666 00:34:39,280 --> 00:34:41,000 Speaker 1: But then there might be some things that's hey, you 667 00:34:41,040 --> 00:34:43,080 Speaker 1: know they do it like this, it might work over here, 668 00:34:43,320 --> 00:34:46,480 Speaker 1: you know, and uh and it does. So yeah, there's 669 00:34:46,480 --> 00:34:50,080 Speaker 1: a lot of those type things. I think of so 670 00:34:50,239 --> 00:34:53,960 Speaker 1: many well known racing families. You think of the Petties, 671 00:34:54,080 --> 00:34:56,600 Speaker 1: you think of the Allison's, you think of the Earnhardts, 672 00:34:56,600 --> 00:34:59,840 Speaker 1: and of course the Andretti's. How much of an impact 673 00:35:00,120 --> 00:35:03,640 Speaker 1: did your father have Mario Andretti, who people don't know 674 00:35:03,920 --> 00:35:12,520 Speaker 1: won and the Daytona five. How much of that impact 675 00:35:12,680 --> 00:35:16,840 Speaker 1: did your father have on you? Obviously a ton you know, 676 00:35:17,920 --> 00:35:20,440 Speaker 1: I don't think it was more. It wasn't that directly 677 00:35:21,400 --> 00:35:24,680 Speaker 1: from him. It was more just being the son of 678 00:35:24,880 --> 00:35:27,719 Speaker 1: and being exposed to all of it. Um, you know, 679 00:35:27,800 --> 00:35:31,200 Speaker 1: I uh, yeah, you go one way or other, you know, 680 00:35:31,320 --> 00:35:33,000 Speaker 1: you go one way that you know, I really don't 681 00:35:33,040 --> 00:35:35,239 Speaker 1: want to be a part of it, you know, you know, 682 00:35:35,520 --> 00:35:38,040 Speaker 1: or you go into it that you want to have 683 00:35:38,280 --> 00:35:40,560 Speaker 1: more of it and be more get more into it, 684 00:35:40,760 --> 00:35:43,319 Speaker 1: and uh, you know, I chose to go that way, 685 00:35:43,400 --> 00:35:46,480 Speaker 1: and luckily I was good enough to be able to 686 00:35:46,560 --> 00:35:51,560 Speaker 1: go and make a career out of it. Mike, last 687 00:35:51,680 --> 00:35:55,440 Speaker 1: year was not a great year for anybody, UM, COVID, etcetera. Um, 688 00:35:56,800 --> 00:36:00,239 Speaker 1: tell me about the bounce back this year. Yeah, it's 689 00:36:00,520 --> 00:36:03,080 Speaker 1: it's definitely nice to be out there and you know, 690 00:36:03,280 --> 00:36:06,960 Speaker 1: like for instance, at Indianapolis, running Indianapolis in August and 691 00:36:07,600 --> 00:36:10,680 Speaker 1: not having any any fans was just the weirdest thing 692 00:36:10,760 --> 00:36:13,440 Speaker 1: in the world. And uh, it's nice to get closer 693 00:36:13,520 --> 00:36:16,200 Speaker 1: back to normal. You know. This May when we had 694 00:36:16,239 --> 00:36:20,359 Speaker 1: a hunter and people and it started to feel more 695 00:36:20,400 --> 00:36:24,359 Speaker 1: regular again. So it's been great to get that feeling back. 696 00:36:24,680 --> 00:36:27,200 Speaker 1: It has been very strange going to some of these 697 00:36:27,239 --> 00:36:30,840 Speaker 1: places and not having sands and you know, and also 698 00:36:30,960 --> 00:36:33,560 Speaker 1: just you know, for our sponsors now being able to 699 00:36:33,719 --> 00:36:36,680 Speaker 1: use it again because a lot of them you couldn't 700 00:36:36,680 --> 00:36:40,160 Speaker 1: bring any guests and things like that. So it's nice 701 00:36:40,200 --> 00:36:43,359 Speaker 1: to get back to normal. You know. It's like last 702 00:36:43,440 --> 00:36:46,000 Speaker 1: year we just tried to not even think about, you know, 703 00:36:46,719 --> 00:36:48,520 Speaker 1: and it didn't even happen. You know, it was just 704 00:36:49,480 --> 00:36:51,200 Speaker 1: you know, we're lucky we were able to get through 705 00:36:51,239 --> 00:36:54,960 Speaker 1: it and survive for sure. And so what do you 706 00:36:55,080 --> 00:36:57,080 Speaker 1: think that the net effect is going to be on 707 00:36:57,320 --> 00:37:00,640 Speaker 1: on the business of racing overall of the pandemic in 708 00:37:00,840 --> 00:37:04,440 Speaker 1: terms of you know, whether it's sponsor mix, whether it 709 00:37:04,680 --> 00:37:08,760 Speaker 1: is you know, different series that have you know, maybe 710 00:37:09,000 --> 00:37:12,759 Speaker 1: pun intended sort of accelerated and their ambition. And I'm 711 00:37:12,800 --> 00:37:15,759 Speaker 1: thinking maybe you know, a formula E in this case, 712 00:37:15,880 --> 00:37:18,920 Speaker 1: like are there things that have been altered by by 713 00:37:19,000 --> 00:37:24,000 Speaker 1: the course of recent history. I think they were altered temporarily, 714 00:37:24,080 --> 00:37:26,799 Speaker 1: but I think you know, things are getting more back 715 00:37:26,840 --> 00:37:29,480 Speaker 1: to normal and some place, some things there's even more 716 00:37:29,520 --> 00:37:32,719 Speaker 1: interest because people missed it, you know, because when they 717 00:37:32,760 --> 00:37:35,000 Speaker 1: don't have it, you know, you don't have something, you 718 00:37:35,080 --> 00:37:37,800 Speaker 1: want it more. And I think that's part of what 719 00:37:38,320 --> 00:37:41,760 Speaker 1: we're experiencing now, you know, I think people were hungry 720 00:37:41,880 --> 00:37:45,279 Speaker 1: for for having events and stuff like that again. And 721 00:37:45,520 --> 00:37:48,560 Speaker 1: uh and because of that, you know, it's you know, 722 00:37:48,680 --> 00:37:50,600 Speaker 1: you look at our Indycard grade for instance, you know 723 00:37:50,760 --> 00:37:54,400 Speaker 1: we're having you know, twenty six cars at mid Ohio, 724 00:37:54,640 --> 00:37:57,640 Speaker 1: which we never were able to have, and it's unbelievable 725 00:37:57,719 --> 00:38:01,360 Speaker 1: that you know that things like that are happening. You know, 726 00:38:01,480 --> 00:38:04,600 Speaker 1: you think, I think it would have been harder to 727 00:38:04,719 --> 00:38:06,839 Speaker 1: jump to get back from it, but I think it's 728 00:38:06,880 --> 00:38:10,560 Speaker 1: because people missed it, so they're getting into it even 729 00:38:10,640 --> 00:38:14,319 Speaker 1: harder than they did before. Have you thought about makes 730 00:38:14,360 --> 00:38:19,400 Speaker 1: sense to you? Have you thought about maybe NASCAR in 731 00:38:19,600 --> 00:38:24,360 Speaker 1: terms of maybe one day owning a NASCAR team? You know, 732 00:38:24,400 --> 00:38:27,480 Speaker 1: I looked at it. It was close three different times, 733 00:38:28,440 --> 00:38:31,120 Speaker 1: um where you know, I started to get excited that 734 00:38:31,160 --> 00:38:33,480 Speaker 1: I think it's going to come together and then for 735 00:38:33,640 --> 00:38:37,920 Speaker 1: every reason, it fell apart. And so you know, always 736 00:38:38,000 --> 00:38:39,839 Speaker 1: looking at it, but it's got to be done right. 737 00:38:40,440 --> 00:38:42,520 Speaker 1: I'm not going to do it, you know, half ass 738 00:38:42,640 --> 00:38:45,839 Speaker 1: and not be competitive. I wouldn't be able to say 739 00:38:45,840 --> 00:38:47,520 Speaker 1: if we're gonna do it, that we're gonna be able 740 00:38:47,520 --> 00:38:49,799 Speaker 1: to do it the right way. And you know, unfortunately, 741 00:38:49,880 --> 00:38:52,640 Speaker 1: those opportunities that I had that I think I would 742 00:38:52,680 --> 00:38:54,759 Speaker 1: have put us in a competitive situation fell apart in 743 00:38:54,880 --> 00:38:59,880 Speaker 1: the end. So you know, never say never likely you 744 00:39:00,000 --> 00:39:03,920 Speaker 1: compete I think in seven different series right now. Are 745 00:39:03,960 --> 00:39:05,560 Speaker 1: you a hands on guy or are you pretty good 746 00:39:05,560 --> 00:39:09,920 Speaker 1: at delegating authority? No, I'm good at delegating. You know, 747 00:39:10,120 --> 00:39:13,000 Speaker 1: I think that, Uh, I try not to micromanage, but 748 00:39:13,080 --> 00:39:15,919 Speaker 1: I do manage, you know. I'm I'm involved in every 749 00:39:16,000 --> 00:39:19,480 Speaker 1: single series. Um, I know what's going on in every series. 750 00:39:19,560 --> 00:39:22,359 Speaker 1: But you know, if you're gonna hire the best people, 751 00:39:22,400 --> 00:39:24,120 Speaker 1: you gotta let them go and do their job. And 752 00:39:24,840 --> 00:39:27,120 Speaker 1: that's what I try to do. And uh, you know 753 00:39:27,200 --> 00:39:31,400 Speaker 1: it seems to work. And and part of it, Michael 754 00:39:31,600 --> 00:39:34,600 Speaker 1: is you know better than than we do, is you know, 755 00:39:34,719 --> 00:39:38,239 Speaker 1: partnerships that that you do have to form. And you know, 756 00:39:38,680 --> 00:39:41,160 Speaker 1: since we are talking a lot about Formula E, you know, 757 00:39:41,280 --> 00:39:44,799 Speaker 1: tell us about that partnership and and sort of how 758 00:39:45,640 --> 00:39:48,319 Speaker 1: um I believe it's you and Roger Griffith, so sort 759 00:39:48,360 --> 00:39:51,240 Speaker 1: of how you guys work together, like what's the what's 760 00:39:51,280 --> 00:39:53,320 Speaker 1: the vibe? How do you how do you sort of 761 00:39:53,400 --> 00:39:56,479 Speaker 1: build out something like that, especially when you're talking about 762 00:39:56,560 --> 00:40:00,640 Speaker 1: new technologies and and A and a nascent it's relatively 763 00:40:00,719 --> 00:40:05,200 Speaker 1: nascent series, I guess. Yeah. So you know, uh, we 764 00:40:05,320 --> 00:40:07,600 Speaker 1: were lucky to have a guy like Roger that was, 765 00:40:08,000 --> 00:40:10,719 Speaker 1: you know, working with us. We had hired him from 766 00:40:11,719 --> 00:40:16,399 Speaker 1: uh HPD, which is a Fonda performance side that does 767 00:40:16,480 --> 00:40:19,680 Speaker 1: the engines in any car and and the timing of 768 00:40:19,800 --> 00:40:23,520 Speaker 1: hire him and then the opportunity of that formula was 769 00:40:23,640 --> 00:40:25,680 Speaker 1: about the same time, and it worked out great. He's 770 00:40:25,719 --> 00:40:28,480 Speaker 1: done a really good job, you know, basically running the 771 00:40:28,560 --> 00:40:32,040 Speaker 1: program for us. Uh. You know we uh, we have 772 00:40:32,160 --> 00:40:34,320 Speaker 1: weekly meetings with him to see what's going on. And 773 00:40:34,360 --> 00:40:37,800 Speaker 1: actually there's even more meetings than that. That happened, you 774 00:40:37,880 --> 00:40:40,839 Speaker 1: know here in Indianapolis with him and and the team 775 00:40:40,920 --> 00:40:43,880 Speaker 1: over there, and so you know, we're we're on on 776 00:40:44,000 --> 00:40:48,080 Speaker 1: the pulse. UM. But again it goes back to you know, 777 00:40:49,080 --> 00:40:51,960 Speaker 1: letting guys like him, you know, do his job and 778 00:40:52,040 --> 00:40:57,239 Speaker 1: not interfere too much. You have seen since you're still 779 00:40:57,320 --> 00:41:01,080 Speaker 1: in Indianapolis, you have seen the major your ownership changed. 780 00:41:01,239 --> 00:41:04,080 Speaker 1: You were there racing obviously when the Tony Holman era 781 00:41:04,320 --> 00:41:06,680 Speaker 1: was there, and then the home and family had it, 782 00:41:07,400 --> 00:41:12,920 Speaker 1: uh and then uh, it just recently went to Roger Penskey. Uh. 783 00:41:14,160 --> 00:41:18,239 Speaker 1: The track has changed and evolved in ownership. I guess 784 00:41:18,320 --> 00:41:22,000 Speaker 1: the big question is what has changed in racing from 785 00:41:22,040 --> 00:41:27,960 Speaker 1: when you first got into today? Oh god tons, you know, 786 00:41:28,080 --> 00:41:31,480 Speaker 1: it's funny, you know, and I started racing, I'd look at, uh, 787 00:41:31,880 --> 00:41:33,800 Speaker 1: you know, the cars that Dad started out in, and 788 00:41:33,800 --> 00:41:36,600 Speaker 1: it looked like dinosaurs. And you know, and then when 789 00:41:36,640 --> 00:41:38,480 Speaker 1: I got halfway through my career, I looked at the 790 00:41:38,520 --> 00:41:40,680 Speaker 1: cars that I started out and they looked like dinosaurs. 791 00:41:40,800 --> 00:41:44,239 Speaker 1: You know. It's a it's amazing technology. Um, you know, 792 00:41:44,320 --> 00:41:48,360 Speaker 1: I think the biggest, uh game, you know when you 793 00:41:48,440 --> 00:41:51,600 Speaker 1: look at it, is the safety aspect of things that 794 00:41:51,680 --> 00:41:54,080 Speaker 1: were developed into the cars, you know, over the years. 795 00:41:54,080 --> 00:41:56,319 Speaker 1: Because you looked at you looked back now and say, 796 00:41:56,360 --> 00:41:59,480 Speaker 1: I can't believe I even drove that race car us, 797 00:41:59,560 --> 00:42:02,920 Speaker 1: you know what I mean. And so it's really been 798 00:42:03,000 --> 00:42:06,800 Speaker 1: cool to see, you know, all those innovations and the 799 00:42:06,920 --> 00:42:09,120 Speaker 1: cars are way way safer than they were, you know 800 00:42:09,680 --> 00:42:12,560 Speaker 1: when I started, and they're really really safer than when 801 00:42:12,640 --> 00:42:16,760 Speaker 1: Dad started, you know. So, uh, it's that that's probably 802 00:42:16,760 --> 00:42:20,520 Speaker 1: been the biggest thing that I've seen. I was showing 803 00:42:20,560 --> 00:42:24,600 Speaker 1: my son a clip of the and he looks at 804 00:42:24,680 --> 00:42:26,879 Speaker 1: me and he says, looking at the cars, that looks 805 00:42:26,920 --> 00:42:28,960 Speaker 1: like a hot dog with wheels, and I'm like, you know, 806 00:42:29,200 --> 00:42:30,840 Speaker 1: and then I got mad. I'm like, you know, you 807 00:42:30,920 --> 00:42:33,759 Speaker 1: didn't just go over in the corner. But I think 808 00:42:33,840 --> 00:42:38,320 Speaker 1: that those guys were sitting between two gallons of medinol 809 00:42:38,560 --> 00:42:41,440 Speaker 1: and just metal containers on each side of them, you know. 810 00:42:41,560 --> 00:42:44,440 Speaker 1: I mean it's things like that. You know, they're like insane. 811 00:42:44,480 --> 00:42:48,280 Speaker 1: They were just bombs ready to go off, so crazy. 812 00:42:51,520 --> 00:42:54,640 Speaker 1: And Michael, and a follow up to that, fifty years 813 00:42:54,680 --> 00:42:56,680 Speaker 1: from now and we're still going to see fossil fuel 814 00:42:56,800 --> 00:43:02,120 Speaker 1: races or will they all be uh, vehicles, I don't 815 00:43:02,120 --> 00:43:04,279 Speaker 1: love it's going to be vehicles. I don't know if 816 00:43:04,320 --> 00:43:07,480 Speaker 1: it's gonna I don't. I think eventually fossil fuels will 817 00:43:07,560 --> 00:43:10,400 Speaker 1: go away and it's going to be something like hydrogen 818 00:43:10,800 --> 00:43:14,719 Speaker 1: or some other type of fuel that that will be developed. Um, 819 00:43:15,120 --> 00:43:17,600 Speaker 1: you know that is better for the environment and things 820 00:43:17,640 --> 00:43:21,480 Speaker 1: like that, you know, zero carbon type thing. So you know, 821 00:43:21,560 --> 00:43:25,480 Speaker 1: that's why what I see. So Michael, as we wrap 822 00:43:25,600 --> 00:43:28,040 Speaker 1: up with you here, I mean, I guess the one 823 00:43:28,160 --> 00:43:30,640 Speaker 1: thing I'm also curious about. We talked with Jamie Regal 824 00:43:31,320 --> 00:43:34,840 Speaker 1: about this last week, um over at Formula E, this 825 00:43:34,920 --> 00:43:39,840 Speaker 1: whole notion of the consumer's role in something like Formula 826 00:43:39,920 --> 00:43:42,560 Speaker 1: E and sort of propelling it again pun intended sort 827 00:43:42,560 --> 00:43:46,399 Speaker 1: of forward more into the consciousness. Were more concerned about 828 00:43:46,440 --> 00:43:51,080 Speaker 1: sustainability broadly. We're more aware of climate change and all 829 00:43:51,160 --> 00:43:55,880 Speaker 1: of the contributions and contributing factors there. How much does that, 830 00:43:56,160 --> 00:44:00,600 Speaker 1: in your mind help the business of the sport? Huge? 831 00:44:00,800 --> 00:44:04,239 Speaker 1: It's huge, you know when you go to make your pitch, uh, 832 00:44:04,560 --> 00:44:07,239 Speaker 1: you know, at a sponsor, I mean, the first thing 833 00:44:07,680 --> 00:44:10,120 Speaker 1: they asked about, you know, you you pitch the Indy Car, 834 00:44:10,239 --> 00:44:11,920 Speaker 1: you pitched some of the other series, and then you 835 00:44:12,000 --> 00:44:15,839 Speaker 1: bring up formula or extremely that we're in as well. Uh, 836 00:44:16,360 --> 00:44:18,560 Speaker 1: they say, hey, tell me about that, you know, because 837 00:44:18,960 --> 00:44:22,200 Speaker 1: a lot of their programs with a lot of these 838 00:44:22,560 --> 00:44:24,759 Speaker 1: companies are in you know, I have to do with 839 00:44:24,840 --> 00:44:27,239 Speaker 1: sustainability and things like that. So there's a lot of 840 00:44:27,600 --> 00:44:31,480 Speaker 1: a lot of interest there for sure. Michael Bard deferred 841 00:44:31,520 --> 00:44:33,600 Speaker 1: the last question to you. This is your this is 842 00:44:33,680 --> 00:44:36,840 Speaker 1: your hot sound man? Oh man, my goodness. I guess. 843 00:44:37,120 --> 00:44:40,080 Speaker 1: I guess the biggest thing that I think of, uh 844 00:44:40,800 --> 00:44:42,480 Speaker 1: is that, and we were kind of talking about it 845 00:44:42,680 --> 00:44:47,520 Speaker 1: off air, is how you have taken the Andrette name 846 00:44:48,520 --> 00:44:51,120 Speaker 1: and made it your own. And and it's from the 847 00:44:51,200 --> 00:44:54,920 Speaker 1: fact that I mean, especially now as a car owner. Uh. 848 00:44:55,080 --> 00:44:57,360 Speaker 1: And it kind of goes back to the question we 849 00:44:57,440 --> 00:45:01,920 Speaker 1: asked earlier, the there are headaches involved and when you 850 00:45:02,120 --> 00:45:07,200 Speaker 1: own a race car, can you take us through that process? Yeah, 851 00:45:07,239 --> 00:45:09,719 Speaker 1: there's a lot of headache, I can assure you. Um, 852 00:45:10,440 --> 00:45:12,279 Speaker 1: you know, it's actually though, it's a lot of fun. 853 00:45:12,440 --> 00:45:14,600 Speaker 1: I enjoy it. You know. The only side that I 854 00:45:15,120 --> 00:45:17,560 Speaker 1: you know, that I don't really like about the ownership 855 00:45:17,719 --> 00:45:19,800 Speaker 1: is you know, having to go out and try to 856 00:45:20,239 --> 00:45:22,600 Speaker 1: raise the money, you know, to run these things. Because 857 00:45:23,680 --> 00:45:25,680 Speaker 1: it's a big machine. It takes a lot to run it, 858 00:45:25,840 --> 00:45:29,440 Speaker 1: so that's always a bit of a pain. But you know, 859 00:45:29,520 --> 00:45:31,960 Speaker 1: when you do get a program that's fully funded, uh, 860 00:45:32,040 --> 00:45:33,759 Speaker 1: it's a lot of fun, you know, to be able 861 00:45:33,760 --> 00:45:36,719 Speaker 1: to do what you love. And you know, I feel 862 00:45:36,760 --> 00:45:39,279 Speaker 1: like I'm a luckiest guy in the world. You know, 863 00:45:39,400 --> 00:45:42,600 Speaker 1: when a lot of guys when they retire from the sport, 864 00:45:43,120 --> 00:45:45,800 Speaker 1: you know, they they sort of like fish, you know, 865 00:45:45,920 --> 00:45:47,640 Speaker 1: fish out of water. And you know, it's sort of 866 00:45:47,719 --> 00:45:49,440 Speaker 1: what I saw with my father a little bit, and 867 00:45:50,320 --> 00:45:52,080 Speaker 1: and uh, you know, for me, I didn't want to 868 00:45:52,120 --> 00:45:53,759 Speaker 1: be like that. I wanted to have still have a 869 00:45:53,800 --> 00:45:56,799 Speaker 1: reason to wake up in the morning. And and uh, 870 00:45:57,080 --> 00:45:59,640 Speaker 1: you know that's where I decided I wanted to be 871 00:45:59,760 --> 00:46:02,719 Speaker 1: in the ownership side. And luckily I was able to 872 00:46:02,760 --> 00:46:04,480 Speaker 1: buy the team that was driving for at that time 873 00:46:04,520 --> 00:46:07,840 Speaker 1: from Barry Green and it's worked out really great for me. So, 874 00:46:08,520 --> 00:46:10,600 Speaker 1: like like I said, I feel really lucky that I'm 875 00:46:10,640 --> 00:46:13,640 Speaker 1: still involved with the sport that I've loved and been 876 00:46:13,680 --> 00:46:15,479 Speaker 1: a part of my life, the whole of my whole life. 877 00:46:17,320 --> 00:46:19,719 Speaker 1: Michael Andrettie. Really really good to spend some time with you, 878 00:46:20,200 --> 00:46:22,920 Speaker 1: um say, travels to New York as it all gets underway, 879 00:46:23,400 --> 00:46:27,480 Speaker 1: uh this weekend formulaly, it's all happening, uh there in Brooklyn, 880 00:46:27,800 --> 00:46:30,360 Speaker 1: a part of as we said at a broad Racing 881 00:46:30,440 --> 00:46:34,080 Speaker 1: portfolio that that you're overseeing. Good to spend some time 882 00:46:34,080 --> 00:46:36,080 Speaker 1: with you. Thank you so much. Thank you as great 883 00:46:36,120 --> 00:46:39,160 Speaker 1: spend time with you guys, Thank you very much. All right, well, 884 00:46:39,239 --> 00:46:42,480 Speaker 1: our thanks to both Jamie Regal and Michael Andrettie. Two 885 00:46:42,640 --> 00:46:46,040 Speaker 1: very busy guys this weekend. So check out what they 886 00:46:46,200 --> 00:46:50,360 Speaker 1: are doing. Those cars they're gonna be racing through Brooklyn, 887 00:46:50,520 --> 00:46:53,680 Speaker 1: the latest stop for the Formula E Tour. A lot 888 00:46:53,840 --> 00:46:56,279 Speaker 1: coming together in the world and in the world of 889 00:46:56,360 --> 00:47:01,279 Speaker 1: sports that is really propelling that sport forward. We talked 890 00:47:01,320 --> 00:47:05,360 Speaker 1: to Michael and Andrey. This is the Bloomberg Business of 891 00:47:05,440 --> 00:47:08,680 Speaker 1: Sports podcast. I'm mcgiddy Michael Barre. You can follow me 892 00:47:08,840 --> 00:47:12,680 Speaker 1: on Twitter at Big Bar Sports Zoom Zoom. This is Lynchy. 893 00:47:12,760 --> 00:47:15,680 Speaker 1: You can follow me at Lynch w CVB, and I'm 894 00:47:15,760 --> 00:47:18,480 Speaker 1: Jason Kelly at Jason Kelly News. We're here each and 895 00:47:18,520 --> 00:47:21,800 Speaker 1: every Monday, Wednesday and Thursday talking about the world of 896 00:47:21,840 --> 00:47:24,920 Speaker 1: money in sports. You're listening to Bloomberg Business of Sports 897 00:47:25,160 --> 00:47:28,120 Speaker 1: on Bloomberg Radio around the world and online wherever you 898 00:47:28,200 --> 00:47:29,160 Speaker 1: get your podcasts.