What Audi and Porsche Stand to Gain From Joining Formula 1
Much about the deal remains unclear—and to see upside, they’ve got to win.
Cars wait in the pit lane during qualifying rounds for the Australian Formula One Grand Prix at Albert Park on March 19, 2016, in Melbourne.
Photographer: Mark Thompson/Getty Images AsiaPacThe announcement that Porsche and Audi want to lend their names to Formula 1 comes at a high point of popularity in the U.S. for the world’s most glamorous racing series.
Miami’s first-ever F1 Grand Prix will run on May 8. Race-day ticket prices hit $1,342 this week on the secondary market, more than prices for the NBA finals, Stanley Cup, and World Series, according to the ticket-seller TickPick. Luxe hotel, restaurant, and entertainment packages are selling for as much as $110,000. More than 240,000 fans are expected to attend the sold-out event, with 82,500 surrounding the track in Hard Rock Stadium.