Commercial Manager, Race Promotion – Formula 1
About The Role
Race Promotion is a key pillar of Formula 1’s business, contracting and delivering the live platform where fans can experience the thrill and entertainment of the sport. The Race Promotion Team works with Promoters of existing races as well as negotiating the inclusion of new races on the Championship calendar, in line with Formula 1’s strategic commercial objectives.
As part of your role, you will be responsible for support in developing new business alongside race promoters and further 3rd parties to enhance F1 revenue streams within the Race Promotions department.
Formula 1 has longstanding commercial relationships with a diverse range of Promoters, your role will include building on these on and off-track partnerships, as well as ideating and creating additional assets, with a goal of increasing commercial opportunity and exposure.
- Supporting the Head of Race Promotion in executing on Formula 1’s business strategy of growing the future race calendar to up to 25 races, which will include the research, evaluation, prospecting, and negotiation of potential new race locations.
- Operating across departments to create the greatest opportunity for the business in new race locations.
- Working closely with race relationship managers to understand all revenue opportunities that present themselves in and around races.
- Collaborating with Race Promoters on their commercial strategy, ensuring maximum ROI of the event to all stakeholders.
- The ideation and creation of new year-round event assets that can be rolled out on and off track with a key driver for the race promotion business in creating revenue opportunities in local market via experiences and physical activation.
- Working with 3rd parties, agencies and promoters in development of scalable projects that can engage cross department F1 business including digital, partnerships & marketing.
- Able to see a commercial proposal through from concept to delivery.
- Proven experience in international live events and within the sports industry.
- Strong understanding of event rights monetisation and how rights and assets can be leveraged for mutual benefit within a partnership.
- Understanding of the importance of relationships and event benefits to a host city.
- Ability to adapt quickly to change and operate effectively in diverse cultural environments, creative problem solver.
- Commercially savvy operator who can see the big picture and the connection to day-to-day tasks and projects.
- Focused and driven individual, who proactively takes on initiatives and drives projects from end to finish.
- Willing to frequently travel internationally.
- Excellent communication & interpersonal skills.
- A thorough, detail driven, collaborative and thoughtful team player.
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