Bernie Ecclestone is struggling to get the Chinese interested in Formula One even as Ferrari SpA (FERI), which runs the auto-racing series’ most-successful team, lures the country’s elite with $970,000 luxury cars.
Formula One said it trails Italian soccer’s Serie A and the National Basketball Association in popularity in China, and the state-run broadcaster cut its coverage of the 2012 championship by almost one-third amid an audience share of 4 percent. The 10th edition of the Chinese Grand Prix is April 14 in Shanghai.
Formula One, which persuaded state authorities to build a $240 million racetrack outside Shanghai a decade ago, has had little success attracting local sponsors in China, said Mark Gallagher, a former Red Bull Racing team board member. Full story
