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Episode 95 of the Leaders Sport Business Podcast – brought to you in partnership with Onside Law – features a conversation with Formula 1’s Global Director of Promoters and Business Relations Chloe Targett-Adams (discussion starts at 11.50).
Having joined the global motorsports series in 2009 as a senior legal counsel, Targett-Adams has been a key part of both the ‘old’ and ‘new’ leadership teams at Formula 1. She worked closely with former CEO Bernie Ecclestone, and is now a driving force within the executive team, led by CEO Chase Carey, set up by Liberty Media, which completed its $4.4 billion acquisition of Formula 1 in 2017.
Targett-Adams is responsible for building and maintaining Formula 1’s relationships with its race promoters and the government jurisdictions within which they sit. When Formula 1 was forced to break down then rebuild its season following the outbreak of the pandemic, it fell to Targett-Adams and her team to piece together a race calendar that would meet FIA specifications, hit revenue-unlocking contractual obligations, keep promoters and governments onside, and maintain safety and security.
On the conversational agenda:
– The remarkable feat of rebuilding the calendar into a workable 17-race, international schedule;
– The stresses, strains, challenges and pitfalls along the way, and the stakeholder tensions in play;
– New circuits, new formats, and the chances of taking both forward into the future;
– The return to ‘normal’ in 2021;
– What good leadership has looked like in 2020;
– The F1 of 2009 vs the F1 of now – a modern organisational overhaul for a 21st Century company.
“At heart, Formula 1 has kept its core values [with Liberty Media], we’ve just grown up and adapted those to be much more fit for the modern world and a 21st Century organisation.” Chloe Targett-Adams, Formula 1