Ben Gilbert: observation

Transcript context

…F1, meanwhile, is just as if not more popular is a global sport, has great demographics, and is making $0 in media rights. So Bernie shows up. He's hardly a media professional here, but even he can see that there's room for improvement on both of these fronts. Even before realizing, hey, media rights are going to be super valuable, the thing that he clearly sees is centralizing these negotiations is going to be the way to extract the most value. Yes, there's two opportunities here. The near-term easy one is centralize the negotiations with the racetracks, extract the most value, capture a bunch of it for myself, and then there's a longer-term play of like, ooh, what can I do about these television deals? I think it's actually worth one more quick pause here to compare, contrast Formula 1 in the NFL and Bernie and Pete Rozelle, because these are sort of happening at the same time. But Bernie is like the anti-Pete Rozelle. Pete Rozelle was this consummate manager, professional media guy from Los Angeles. He started as the LA Rams PR guy, and then he gets drafted by the owners of the NFL to be an employee of the league, to serve them and their interests as commissioner.…

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