Business News > Formula One Group to open New York office
The Formula One Group has confirmed that it is establishing its first permanent office in New York in order to increase its commercial and marketing reach in the US.
The specific location of the New York office or how many executives will be based there has not been announced but Norman Howell, director of communications at Formula One, confirmed that “we are opening a small commercial office” that will be predominantly dealing with the “sponsorship side of things".
Formula One was bought by American media conglomerate Liberty Media Corporation for US$4.4 billion in 2016 and Chase Carey, who became chief executive of the series in January, has long stated in his intention to increase the championship’s presence in the lucrative US market.
The Circuit of the Americas in Texas has held the US Grand Prix since 2012. However, it is expected that at least one additional Grand Prix will be raced in the country in the near future, with cities such as New York, Miami or Los Angeles being mooted as potential venues.
The 2018 US Grand Prix will be raced on 22nd October.