ALL NEW 2018 FORMULA 2 CAR TO RUN WITH HALO

The FIA Formula 2 Championship – grooming ground for future Formula 1 drivers – unveiled the F2 2018 to the international media in Monza today and one of the stand-out features is that it features the Halo cockpit safety system – a safety feature which will next year be seen on F1 cars too.

The new car, which will be raced in the 2018, 2019 and 2020 seasons, was revealed in the Formula 1 paddock ahead of the 9th Round of the 2017 F2 season.

The new car, which complies with the latest F1 safety standards, features architecture typical of a modern F1 car and a 3.4 litre turbo-charged Mecachrome engine, which delivers 620 HP at 8,750 rpm. The design philosophy was to refresh the car to mirror the latest updates in F1 design, and to maintain a long tradition of wheel to wheel racing.

The safety updates include changes to marshalling such as the Virtual Safety Car (VSC), Drag Reduction System (DRS) and upgraded electronics, and most notably is the first new car to be revealed featuring the Halo system, which was incorporated at the final stage of the design process.

The electronics have been enhanced with an updated ECU, which features expanded evolution possibilities for later years in an effort to future proof these components, a design decision which is in line with the usual focus on cost control. The operational costs for the teams are expected to be similar to this year.

The car has made a successful shakedown in July at the Circuit de Nevers Magny-Cours, and the development programme will continue over a number of tests across the remainder of the year to accumulate sufficient mileage, to ensure that a functional and reliable car will be delivered to the teams. Two test sessions in December will be solely focussed on performance testing, where the car will be pushed to its limits ahead of the handover process to the teams.

A first car will be delivered to the teams in mid-January 2018, and the second car will be delivered in mid-February. There will be a shakedown with the teams between these dates to allow them to become acclimatised with the car ahead of the first official pre-season test.

Pirelli is once again the official tyre suppliers to the championship, and have been integral to the design process to ensure continuity with respect to the tyres.





Charlie Whiting, FIA Director of F1 and Director, Single-Seater Department commented: “The unveiling of the 2018 FIA Formula 2 car is an important moment for the FIA as we complete the single-seater pyramid from Karting right through to the pinnacle of motor sport in the FIA Formula One World Championship.

“The plan for a more structured junior formula ladder is designed to feature cars that better prepare drivers for the next step. For Formula 2, that means we needed a car that will not only educate, but will also allow the drivers that are most ready for Formula One to shine brightest.

“The car has been developed to include improved aesthetics, as well as bringing the safety level up to the highest standards for single-seater cars – and to ultimately bring it closer to a modern Formula One car on both of these points.

“We are proud to present the 2018 FIA Formula 2 Championship car alongside the Promoter, Formula One Management, and we look forward to our continued partnership at this level with this exciting new car.”

FIA Formula 2 Championship CEO Bruno Michel said: “I am very pleased to be able to present our new car for the next three year cycle of the FIA Formula 2 Championship. Our focus has always been on providing a powerful, safe and challenging car which will encourage overtaking, and thanks to the new aerodynamics package we believe this car will both enhance racing and provide even more entertainment for our fans. Our philosophy has always been to match this with cost control for the teams, and we believe the F2 2018 will continue to limit operational costs and provide an attractive package to our teams.

“Finally, and most importantly, the F2 2018 matches the very latest F1 safety standards: we have a strong track record on safety, and this was a principle focus during the design process. I believe that the F2 2018 is the right car for the next stage of our championship, while also providing a worthy race car for the final step of the motorsport ladder for our drivers hoping to achieve their ultimate ambition: a race seat in F1.”

The F2 2018 car specs

Dimensions
Overall length: 5224 mm (was 5065mm)
Overall width: 1900 mm (unchanged)
Overall height: 1097 mm including FOM roll hoop camera (was 1072 mm)
Wheelbase: 3135 mm (was 3120mm)
Overall weight: 720 kg (driver on-board)

Engine
V6 3.4 litre single turbo charged Mecachrome engine
Rated to 620 HP @ 8750 rpm
Fly by wire accelerator system
Rebuild after 8000 km
Maximum Torque 600 Nm

Performances
Acceleration: 0 – 100 km/h, 2.90 sec
Acceleration: 0 – 200 km/h, 6.60 sec
Maximum speed: 335 km/h (Monza aero + DRS)
Max. braking deceleration -3.5 G
Max. lateral acceleration +/- 3.9 G

Safety standards
Full FIA F1 2017 safety standards
Halo F1 specification
Monocoque and Bodywork
Survival cell – Sandwich Carbon/aluminium honeycomb structure made by Dallara
Front and rear wing – Carbon structures made by Dallara
Bodywork – Carbon – Kevlar honeycomb structures made by Dallara

DRS
Same functionality of DRS used in Formula One
Hydraulic activation

Gearbox
6-speed longitudinal Hewland sequential gearbox
Electro-hydraulic command via paddle shift from steering wheel
ZF SACHS Carbon clutch
No on-board starter, anti-stall system
Non hydraulic ramp differential

Fuel cell
FIA Standard
Premier FT5 125 litres

Electronic features
Magneti Marelli SRG 480 ECU/GCU including data logging system
Magneti Marelli PDU 12-42 power supply management unit
CAN data acquisition pre-equipment
Beacon receiver

Suspension
Double steel wishbones, pushrod operated, twin dampers and torsion bars suspension (F) and spring suspension (R)
Adjustable ride height, camber and toe
Two way (F) / Four way (R) adjustable Koni dampers
Adjustable anti-roll bar (Front/Rear)

Brakes
6 pistons monobloc Brembo callipers
TBC carbon-carbon brake discs and pads

Wheels and tyres
F1 2016 standard wheel dimensions
O.Z. Racing
Magnesium rims
13” x 12” front F1 2016 standard wheel dimensions
13” x 13.7” rear F1 2016 standard wheel dimensions
F2 specific Pirelli slick / wet tyres

Steering system
Non-assisted rack and pinion steering system
XAP steering wheel with dashboard, gear change and clutch paddles, marshalling & VSC display

Camera equipment
Roll hoop, nose cone and face shot camera pre-equipment.

HEMBERY: IS FORMULA 1 A SERIES FOR MANUFACTURERS OR TEAMS?

Former Pirelli motorsports director Paul Hembery gave up his post to head up the company’s operations in Latin America, but he still keeps in touch with what goes on in the paddock.

He asks a very relevant question: Is Formula 1 a series for manufacturers or teams?

Either way cost reduction and creating a balance of power should be the priority for the rule makers, because Hembery is concerned that the complexity and expense of Formula 1 is keeping manufacturers away to the benefit of alternative racing series’ such as Formula E.

While teams looking to participate at the pinnacle of the sport will simply not consider a F1 programme because costs are out of control. Even newcomers Haas who have entered the sport with state-of-the-art equipment and substantial funding are frustrated by the fact that they have no chance to get on the podium let alone win races.


Hembery gave his views, of where Formula 1 isd right now and where it should be heading, in an interview with Auto Motor und Sport, “The product needs exciting races, fights and overtaking, which are mainly the domain of the driver. The driver must be our superstar, not the car.”

“Then we have to decide: Is Formula 1 a series for manufacturers or teams? If we want the manufacturers to be in it, they must be competitive, or appear to be. They must not be afraid of ridicule and damage to their brand.”

“We are experiencing this with the engines. Two manufacturers have trouble with their power units [Honda and Renault]. This is not good for the sport.”

Hembery points out that the balance of power in Formula 1 is tilted towards the big teams. Ferrari, Mercedes and Red Bull gobble up the victories and hog the podiums, the other seven teams battle closely with on another for the crumbs.

“Let’s be honest: what are the two racing series in which the manufacturers are pushing into aggressively? Formula E and the GT series. Thus Formula 1 needs a balanced platform. I call it a balance of performance. In GT races it exists, and it works. You can argue about the format of this equilibrium.”

“If Formula 1 is not important to the manufacturers, it must substantially reduce costs. [At the moment] the money you need to drive two cars in circles is hard to justify today. This can damage the sport.”

Hembery argues that despite the Formula E hype, Formula 1 remains more relevant to consumers, “It is clearly the desire of the manufacturers to look for a platform for future development. Therefore, they go into the Formula E. The question will be: Will it attract a big audience?”

“Heading a motorsport programme you have to decide: Do you want a shop window or a sport that is popular and offers interesting races? Formula 1 is popular.”

“And let’s not forget that the technology in Formula 1 is still more relevant than the one in Formula E. Look at the sales figures of the electric cars compared to the conventional cars with hybrid drive. I think the hybrid technology will be on our roads for the next 20 years, because electrification is not going to be the same in all countries.”

“We should also inform people properly about Formula 1, which often publicises the unique features badly to the public. As early as 2009, we had KERS in the car. Outside of the sport, hardly anyone knew that. Formula 1 is well ahead of its time.”

Hembery was last involved in Formula 1 during the height of the Bernie Ecclestone led era. But much has changed since then with Liberty Media buying the sport while installing Chase Carey and his crew in charge of the sport after quickly deposing the former F1 supremo.

“They do a lot of things differently and try to involve the audience better while making it more attractive on TV.” acknowledged Hembery. “Formula 1 has certainly needed this. But Liberty has not been in this office very long. Their task is huge. They must take care of: future rules, the organizers, sponsors, new digital platforms.”

“So it will take time understand whether they are on the right path. That is why the automotive manufacturers are still sitting on the fence. They want to know how Formula 1 will look in 2021. I tell you this: We have been given the chance to change something. We must now make sure we change things in the right way,” added Hembery.

LONG BEACH to remain with Indy Car

The Long Beach City Council is expected to confirm shortly that it has decided to stay with Indycar in the future, and will not be switching back to Formula 1. The KPMG report into the various opinions seems to have concluded that an F1 race will not produce the economic impact figures that were being suggested and that the costs involved would be more than the bid suggested. The report does not seem to have taken into account the declining attendance and TV numbers in Indycar and the financial fragility of the US series, which continues to survive largely because of the Indy 500 and the support of a few big teams. Formula 1 has already moved on, arguing that the West Coast is no really a priority at the moment because of the problem with time zones that mean that any F1 race held in California would suffer because of the nine hour difference with continental Europe, which would mean that the race would be aired late in the evening unless the start time was moved to the morning in the US, which would not really fit with the strategy of building up the event around the race. It would also be difficult to get any viewers in Asia, as a 2pm start in Los Angeles is 5am in China and 6am in Japan.


The other argument is that Long Beach, while being a long-established racing event, does not fit with where F1 wants to be and that venues such as Anaheim or Los Angeles city centre would be better.


A few years ago Formula E spent a fair amount of time talking to LA about hosting a race on one of three venues: around the Staples Center, close to the downtown area, or at the nearby Dodgers Stadium to the north, or the LA Coliseum to the south. In the end Formula E went to Long Beach. The race has since dropped off the calendar. LA is still interested in F1 but Eric Garcetti, the 46-year-old mayor, who was recently re-elected for a second term of office that will take him to 2023, is currently finalising plans for the 2024 Olympic Games to be held in the city.

F1 second quarter 2017 financial results

Liberty Media Corporation have released second quarter 2017 financial results, in which the Formula One Group has performed well in the wake of the company’s takeover of the sport less than a year ago.

Chase Carey, Formula 1 Chairman and CEO reported, “We just passed the halfway point in the 2017 season, and attendance, viewership and engagement on digital platforms have increased.”

“We are in the process of developing our three to five year strategic plan while focusing on key priorities like improving and building fan engagement that will positively impact the business and build the foundation for long-term results,” added Carey.


Highlights attributed to Formula One Group include:
Closed primary equity offering and used net proceeds of $388 million to partially repay Formula 1 (“F1”) second lien term loan
Subsequent to quarter-end, completed refinancing of F1 debt to fully repay second lien term loan
Hosted F1 Live event in London, which drew one hundred thousand fans and took over streets of central London

“The Formula 1 management team is invigorating the sport, and during the quarter we capitalized on this with successful debt and equity offerings and fully repaid the more expensive second lien term loan,” said Greg Maffei, Liberty Media President and CEO.

The following table provides the financial results attributed to the Formula One Group for the second quarter of 2017. In the second quarter, the Formula One Group incurred approximately $9 million of corporate level selling, general and administrative expense (including stock-based compensation expense).

		2Q16				2Q17
		amounts in millions
Formula One Group
Revenue
Formula 1		$	NA			$	616
Corporate and other			—				—
Total Formula One Group		$	—			$	616
Operating Income (Loss)
Formula 1		$	NA			$	45
Corporate and other			(12	)			(12	)
Total Formula One Group		$	(12	)		$	33
Adjusted OIBDA
Formula 1		$	NA			$	164
Corporate and other			(7	)			(9	)
Total Formula One Group		$	(7	)		$	155

Liberty completed the acquisition of F1 on January 23, 2017. Liberty maintained an investment in F1 from September 7, 2016 until January 23, 2017, which was accounted for as a cost investment.

For comparison and discussion purposes, the pro forma results of F1 are presented below for the full three months ended June 30, 2017 and 2016, inclusive of purchase accounting adjustments, as if the acquisition of F1 occurred on January 1, 2016.

The purchase price allocation related to the F1 business combination and pro forma adjustments are preliminary and have been made available solely for the purpose of providing comparative pro forma condensed consolidated financial information.

The financial information below is presented for illustrative purposes only and does not purport to represent what the results of operations of F1 would actually have been had the business combination occurred on January 1, 2016, or to project the results of operations of Liberty for any future periods.

		2Q16				2Q17				% Change
		amounts in millions
Primary Formula 1 revenue		$	516			$	527			2	%
Other Formula 1 revenue			84				89			6	%
Total Formula 1 revenue		$	600			$	616			3	%
Operating expenses (excluding stock-based compensation included below):
Team payments			(329	)			(330	)		(0	)%
Other cost of Formula 1 revenue			(79	)			(85	)		(8	)%
Cost of Formula 1 revenue		$	(408	)		$	(415	)		(2	)%
Selling, general and administrative expenses			(24	)			(32	)		(33	)%
Adjusted OIBDA			168				169(1)
Stock-based compensation			—				(9	)		—	%
Depreciation and Amortization			(78	)			(115	)		(47	)%
Operating income		$	90			$	45			(50	)%
Number of races in period			7				7

Primary F1 revenue represents the majority of F1’s revenue and is derived from:
race promotion fees,
broadcasting fees
advertising and sponsorship fees.

Broadcast revenue increased due to higher contractual rates and the impact of slightly higher proportionate recognition of season-based income during the quarter (7/20 races in the second quarter of 2017 compared to 7/21 races in the second quarter of 2016), which more than offset the adverse impact of weaker prevailing foreign currency exchange rates used to translate a small number of Pound and Euro-denominated contracts into US dollars.

Advertising and sponsorship revenue increased due to new sponsors and due to the impact of slightly higher proportionate recognition of season-based income. Other Formula 1 revenue increased modestly during the second quarter primarily due to higher TV production revenue.

These increases were partially offset by lower race promotion fees due to one contract amendment, which was partly offset by the impact of other contractual increases.

Operating income decreased primarily due to increased amortization related to intangible assets acquired in the F1 acquisition and stock-based compensation related to awards granted to members of F1 management.

Adjusted OIBDA decreased slightly in the second quarter, as revenue growth, described above, was offset by increased selling, general and administrative expense as a result of additional headcount, as well as an increase in other costs of Formula 1 revenue related to spend on increased fan engagement, filming in ultra-high-definition and higher freight costs. Additionally, these costs were partially offset by lower spend on the GP3 series.