Formulation One CEO Chase Carey continues to be dedicated to a 25-race calendar in future and has warned occasions with “unattractive” deals signed beneath the earlier regime that their locations on it are in danger.
Liberty took management of F1 at the start of 2017 and has sought out new venues to host races sooner or later.
The thought of 25 races in a season is unpopular with drivers and groups and it could probably be launched with a major tweak to the prevailing weekend format.
Thus far the one new race added is the 2020 Vietnam Grand Prix, which can happen within the metropolis of Hanoi.
A proposed Miami Grand Prix has been postponed till 2020 a minimum of, whereas there may be hypothesis of a return to racing at Dutch circuit Zandvoort.
Carey and F1’s business director Sean Bratches have beforehand indicated a willingness to maintain the championship’s conventional races, however many of those are nonetheless tied up in deals negotiated by former boss Bernie Ecclestone.
The British Grand Prix at Silverstone is one basic race that is still unsure past its present deal.
Talking throughout a convention name for Liberty shareholders, Carey stated: “We consider there may be nonetheless potential development, vital development, within the promotion phase, through the subsequent few years.
“The expansion will probably be pushed by three components. First, we anticipate to increase our calendar past our present 21-race schedule. The growth will probably be modest, however now we have been excited by the quantity, high quality and variety of latest places occupied with internet hosting a race. We’re on the correct aspect of the standard of races or charges.
“Each race wants to be nice for followers, and be a horny enterprise proposition. The race we introduced in Vietnam final week is a main instance of an occasion that can present an important observe for racing in a location that captures the world’s creativeness.
“Second, we anticipate to substitute a number of present races the place we inherited unattractive agreements with new occasions or agreements which can be higher for racing and supply extra worth. Third, there may be vital long-term worth in our higher-end hospitality expertise.
“Main occasions at the moment more and more depend on these clients keen and in a position to pay for distinctive and tailor-made experiences, each within the company and retail finish.”
Carey additionally criticised the way in which occasions had been run through the Ecclestone period.
“The promotion finish of our enterprise has been considered as extra mature than different income streams in F1. This notion was fuelled by a scarcity of funding or freshness by the prior regime in our occasions. Fairly merely, our occasions grew to become stale, which led promoters to give attention to prices as opposed to development.
“Occasions at the moment are extra invaluable than ever, and now we have a world class premium occasion. We’d like to give attention to maximising the worth of our occasions, and speaking that to host places. We’re inspired that the message is getting by way of to each present and potential new host cities.”