Axios Live: Auto racing league's success fuels more investment by affluent groups

MIAMI — Formula One's explosive growth is driving a surge of capital into motorsports, according to racing leaders at an April 30 Axios Live event.

Why it matters: The source of the funding is also changing, shifting team ownership from passionate individuals to deep-pocketed institutions and corporate investors.

Axios' Dan Primack and The Race Media's Darren Cox moderated conversations with Global Ford Racing general manager Will Ford, RedBird Capital Partners chief commercial officer and operating partner Brandon Snow, and Atlassian Williams F1 Team principal James Vowles. The event was sponsored by Reynolds American, Forward Global and Senna.

What they're saying: Racing is a reliable investment opportunity because there is a limited supply of teams and demonstrated long-term interest in the industry.

• "The most valuable IP out there in the world today is sports," Snow told Primack.
• "This is an all-in commitment we're undertaking right now," Ford said. "It's here to stay."

Yes, but: Fans may be wary that investment in their teams is coming from venture capital.

State of play: RedBird Capital Partners and its consortium are reportedly looking to sell their 24% stake in Alpine's Formula One team.

• "We're going to be long on F1 as long as we can be," Snow told Primack.

What's next: Entertainment titan Marvel is coming out with a comic collaboration tied to F1.

• "I've asked them to replicate my eight-pack correctly," joked Vowles, who will be appearing in the comic.
• "That just shows you the strength of sports at the moment."