Formula Flash x Inboxbox

An independent magazine collaboration

A couple of months ago, fellow Substack writer and motorsport journalist

Sasha Rogelberg

and I saw a gap in the market for insightful stories about money in Formula 1. In an age of TikToks, Instagram reels and podcasts, we saw written media falling behind as sports journalism morphed into 30-second clips. We set out to create a zine, an independent magazine publication, with original storytelling and deep dives into the elite motorsport series’ ties with everything from cryptocurrency and streetwear to the NFL, fantasy sports and celebrity culture. The stories will make their way onto Substack in waves in the coming weeks, but you can read the full publication here.

Thank you to the fans, content creators and industry professionals who shared their stories.

Since its official beginnings in 1950, Formula 1 has always been just as much about money as about racing cars.

In Italy, the end of World War II saw an economic boom. The expansion of commercial vehicle production and economic aid from the U.S. Marshall Plan resulted in the nation producing superior engines that powered the first F1 cars. Italian constructors such as Alfa Romeo, Ferrari and Maserati dominated in F1’s inaugural decade.

This new era of 20th-century cars, beautiful as well as functional, drew nobility to the sport: Prince Bira of Siam (now Thailand) — who raced for Maserati, Gordini and Connaught — won the 1955 New Zealand Grand Prix. Aristocrats such as Sir Henry Birkin, a Third Baronet from Nottinghamshire; Prinz Hermann Viktor Maximilian zu Leiningen of Bavaria, son of Queen Victoria’s grand-nephew; and Caberto Conelli, Conte de Prosperis, of Piedmont all participated in grands prix from the 1930s to ‘50s.

The early marriage between money and technology launched Formula 1 to become the pinnacle of motorsport.

In 2023, the sport valued itself at $17.1 billion.

Reaching the apex of an industry is one thing; staying there is another. Sustaining an F1 team is expensive, and funding the best technology for the best cars is an F1 team’s No. 1 priority. Defending Constructors’ and Drivers’ Champions Red Bull Racing estimates a 2023 Formula 1 car costs about $15.9 million. The team was projected to make $510 million in revenue and paid three-time World Champion Max Verstappen $55 million last year.

We want to know where F1’s money comes from.

Enter late-stage capitalism! With the rise of globalization and mass consumption, F1 has changed, and we’re interested in exploring how. As two Gen Z motorsport fans and journalists, we have the unique perspective of both loving F1 and being skeptical of it. We’re concerned with the survival and growth of the sport, along with its impact on our rapidly changing world.

From the tobacco industry’s support of F1 to the rise of cryptocurrency sponsorships to F1’s diversifying fanbase and celebrity support to the sport’s influence on the NFL and fashion, we’re looking at the ways F1 is engaging with industry, marketing and audiences over the 34 pages of our zine.

Enjoy,

Olivia & Sasha