“No one has ever grown so fast”

Aston Martin Not only famous figures are present on the site, such as Fernando Alonsoor in technology, like Dan Fallows -Adrian Newey’s former right-hand man at Red Bull or even his management as a billionaire. Lawrence Strollowner of the team, but also an empire in Canada.

Head of the commercial and marketing department since 2020. Jefferson Slack, an American who has worked in various jobs for 30 years. This is how he worked in representation agencies such as Wasserman or IMG, with figures such as Michael Jordan or David Beckham. He was also commercial director Inter de Milan or advisor to Dorna, promoter MotoGP.

Papa Stroll convinced him to lead his team into Formula 1 and he has no regrets. “The growth of Formula 1 is truly amazing. Ten years ago, equipment was purchased at a nominal price of one dollar. Now they are valued in the billions. With the arrival of Liberty Media in the management of the sport, there has been a tectonic shift in the operation of Formula 1. There is a cost limit to start balancing the network; The sport has exploded into the American market and fans have become more involved. For the franchising model and secure global business, the last few years have been transformative,” he states on the Aston Martin website.

The North American executive talks about his challenge and his arrival at the Silverstone home. “Not all Formula 1 teams have the same motivation. There are teams owned by large corporate companies, and others that their owners consider purely a marketing platform. This is not the case with Aston Martin. Lawrence Stroll, our CEO and majority shareholder, is a wealthy man. man, but he is an individual, and our competitors include several powerful corporate giants. While we are promoting the Aston Martin car brand (and doing a great job at it), We don’t have a corporate fund to invest in.. In a very positive sense, this means that Aston Martin is dependent on dynamic and ongoing commercial and marketing activities, perhaps to a greater extent than anywhere else. It’s great: we feel that the racing team needs us. Also makes us ambitious: We are competing with the best teams in the world with a long history in this sport. This creates some pressure, but where else will we have the opportunity to achieve something like this? When I first met Lawrence through a mutual friend, I didn’t know much about the sport, but Lawrence’s vision for the team was clear. Essentially, he knew the commercial potential of bringing Aston Martin back into Formula 1 and I relished the opportunity to accompany him on that journey,” he recalls.

Freedom fan

Slack praises the new managers of the Circus Maximus. “Liberty Media knows what it is doing and does a great job. maintaining F1. He introduced budget caps, expanded the US market, expanded the calendar to 24 races and helped the sport survive the pandemic. He did a very good job based on the American League model. These American leagues are sports companies. best managed in the worldnot only in an economic sense, but also from the fans’ point of view.

US model

The leader does not hide his references to Aston Martin. “American sports are the standard when it comes to turning sports into a global entertainment product and turning it into a business. NBAFor example, they always had to work harder than other leagues because basketball wasn’t as big as other sports like baseball or American football. What teams and sports are doing in the US is always a source of inspiration, and I constantly encourage our commercial team to take a closer look at what they are doing. At Inter Milan, I applied American sports business methods to football,” he admits.

Mistrust of purists

The American manager sends a message to those nostalgic for Formula 1. “Within the fan community I can understand how purists might be upset at how the mix of classic circuits and new arenas has changed in the modern Formula 1 calendar, but from a business model point of view I think everyone should be happy. Liberty’s structural changes strengthen the sport. Teams are no longer at risk of bankruptcy, and cost caps make the grid more competitive. Last year we had a team at the top, above everyone else, which is not a big achievement. deal, but the battle between the next four teams, including Aston Martin, was exceptionally tight, which bodes well for the future,” he says.

Youth and social networks

Slack has a clear recipe for ensuring that Formula 1 continues to stay on top of the wave. “There is work to be done. The transformation is not complete, and there are still traces of the old school along the way: content availability, for example, remains an issue. This is a real challenge for Formula 1. The sport must ensure continued engagement with fans. You can’t focus on wealthy people joining the Paddock Club. You need to engage the entire socioeconomic spectrum, and some of the current content policies simply weren’t designed for a social media world. Center. This is not conducive to building a fan base. The sport is gaining momentum but now has to support and retain the new fans it has attracted, especially young ones. We cannot allow Formula 1 to become a fad: it is now the center of attention. fire (hot), but next year it could be wrestling or padel tennis,” he says.

The rise of Aston Martin

The President explains in detail what they do during training and how to move forward. “At Aston Martin Aramco we are fortunate to have a very modest base. Our predecessors were small, and this allowed us to build a modern organization without having to deal with legacy issues. There are some huge teams in Formula 1 and, of course, if they were to go through because of the changes we went through, they would find it difficult to adapt, both culturally and structurally. We started with the smallest fan base of any team, and now we have the fifth largest. It’s not because we won the World Cup (we haven’t scored anything yet), but by having the right brand and the right strategy. The organization has grown eightfold. the size of the one we inherited. I don’t know anyone who has grown so quickly in any team sport.. That doesn’t mean we’ve reached that point yet, but the growth has been extraordinary,” he says.

Relevance and luxury

The commercial director admits that this was facilitated by his “passion for Formula 1” and the “Drive for Survive” series on Netflix. “As a team determined to grow, these improvements in availability and popularity have disproportionately helped us“He admits. That and joining a prestigious, high-end firm. “Lawrence could continue to use the Racing Point name or something similar, but it’s really great to connect our racing organization with a car manufacturer with over 110 years of experience. story. Us and Ferrari We are two brands in the paddock with one ultra-luxury heritage in the long term, and this is attractive to many potential partners,” he asserts.

Make money…like the NFL

Finally, Slack offers a mirror that may surprise many: American football. “It’s about setting clear goals. We provide revenue And we create culture and a team of people who can do it, who can create value for shareholders. The idea of ​​a Formula 1 team making a profit is still sometimes seen in a negative light, and it shouldn’t be that way. The NFL has arguably the best business model of any sport, and all the team owners make money from it., and some of them earn a lot of money. This does not detract from the value of the product. If anything, it’s the opposite: it gives you the ability to think long term and create a product that works, a product that people want to keep coming back to. It’s a virtuous circle,” he concludes.