Formula 1 remains an expensive sport with “hundreds and hundreds of millions of dollars” spent annually in a bid for race track dominance.
“It’s technology, and you’re always chasing it,” said Zak Brown, CEO of McLaren Racing. “What you start the season with could be the fastest race car. If you didn’t touch that race car, by the end of the year, it would be the slowest race car.”
“That’s the pace of development and that costs money,” Brown told CNBC on Friday at the annual Singapore Summit.
So feeling the thrill of F1 has long had a massive price tag, but that may be changing. According to Brown, esports could be the answer to bringing the racing experience to the masses.
“Esports, I think, is great,” Brown said. “It’s kind of the grassroots of motor sports.”
And with the advances in simulation technology, “these are no longer arcade games,” he added.
Now, Brown said, the F1 franchise can reach out to an audience of different genders and age groups globally. In some places, he acknowledged, “esports will be larger than Formula 1.”