Feb 13, 2024 - Business

F1 Miami's Epp: Hamilton's move to Ferrari is "John Lennon going and singing for the Rolling Stones"

Jeff Moorad and Tyler Epps talking with Hope King

Jeff Moorad (left) and Tyler Epps (right) during Axios BFD Miami. Photo: Ledd Villamarzo, EDIN STUDIOS

Tyler Epp, president of F1 Miami Grand Prix, used a head-exploding pop culture reference to describe Lewis Hamilton's upcoming move from Mercedes to Ferrari: "John Lennon going and singing for the Rolling Stones."

Why it matters: Hamilton is one of the most decorated drivers in Formula 1 history and now joins forces with the sport's oldest and most successful team.

What they're saying: Speaking alongside Epp at Axios' BFD event in Miami, MSP Sports Capital CEO Jeff Moorad pointed out that "The market cap of Ferrari went up $8-9 billion the day Lewis' deal was announced."

  • "The sport has 20 drivers and 20 celebrities as a result. It's a celebrity-making platform," Moorad continued.

What's next: The huge interest surrounding Hamilton's shocking move comes as the sports has grown tremendously in the U.S. But Moorad was bearish on further expansion.

  • "It may be near capacity in terms of the number of races," he said. "We've seen the strain that it puts, going from 23 to 24."
  • Added Epp: "If it starts to take away from any of our promoter family, we're going to be against it."
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