ENGLEWOOD, Colorado – Chase Carey, CEO of Formula One Group, is confident teams can, and should, continue to spend hundreds of millions of dollars per season on Formula 1. “I don’t see why not, it’s just a few hundred million,” said Carey, who doesn’t spend a dime of his personal wealth on the sport, “Just because some teams need bailouts from billionaires, are laying off staff, and the countries we charge tens of millions of dollars to for hosting our events are seeing a little downturn in GDP, doesn’t mean all these people still can’t continue to spend money with Formula One Group. In fact I would suggest they continue to do so. It’s called exposure.”
Carey told The Lugg Nutt he looks forward to seeing what Claire Williams’ next move is and suggests most teams follow her lead.