F1 Business Diary 2018: The German Grand Prix

Lewis Hamilton wins action-packed race at the Hockenheim circuit as 2019 Miami race is scrapped.

F1 Business Diary 2018: The German Grand Prix

Lewis Hamilton won a thrilling German Grand Prix after Sebastian Vettel crashed out while holding the lead.

Lewis Hamilton won a thrilling German Grand Prix after Sebastian Vettel crashed out while holding the lead with 25 laps to go.

Hamilton, who now leads the drivers' championship by 17 points from Vettel, had not even been the Ferrari driver's nearest challenger before it began to rain in the second half of the race. Valtteri Bottas had been closer to Vettel, who was cruising to victory on his home circuit before he spun out of control in front of thousands of fans at the Hockenheim circuit.

Before the race had begun, it appeared to be a case of damage limitation for Hamilton, who had only qualified in 14th position following hydraulic issues in qualifying. However, his management of his tyres - both before and after the rain - saw him come through for one of the most remarkable of his 66 career wins. His teammate Bottas finished second after being asked by his Mercedes team not to push Hamilton in the closing stages, while Kimi Raikkonen did - at least - secure a podium finish for Ferrari.

Plans for 2019 Miami Grand Prix scrapped

Formula One has quashed plans to hold a Grand Prix in Miami in 2019, with the debut race now pencilled in for 2020.

Sean Bratches, Formula One’s commercial boss, explained that there was not enough time to “deliver the best possible wheel-to-wheel racing experience” before next year.

He added that the decision had been made in conjunction with Miami authorities, with Formula One “committed to expansion in the US and to Miami in particular.”

He also stated that the major cause of the Miami delays centred on the layout of the track and that the quality of the race held greater importance than the timeframe.

He said: “If that meant waiting until 2020, then that was far more preferable than signing off on a sub-optimal race track, just to do a deal.”

Sean Bratches has said that he is "committed to expansion in the US and to Miami in particular"

Michelin weighing up Formula One return

Tyre manufacturer Michelin is reportedly considering a Formula One return.

The FIA has begun advertising for its official tyre supplier for the three-year period between 2020 and 2023. According to independent motorsport website RaceFans, Michelin is considering its position and interest.

Pirelli has been Formula One's official tyre supplier for the last seven years, and has had to hit a series of criteria in order to ensure interesting races. The latest specification states that the tyre supplier must hit “objectives that affect the sporting spectacle… related to degradation, durability, temperature working range or wear characteristics.”

The new deal also explains that the supplier’s rubber must fit the current wheel size, as well as the 18-inch wheels which will be introduced in 2021.

A Michelin spokesperson told RaceFans: “For us to build a 13-inch tyre is something we can do but we wouldn’t want to have to. It adds an additional level of complexity and is something we wouldn’t want to happen.”

Michelin has not been Formula One's tyre manufacturer since 2006

F1 and MIT launch new management innovation event series

Formula One has partnered with Massachusetts Institute of Technology’s (MIT) to launch a new event series that aims to lift the lid on the leading motorsport series’ high-performance environment to benefit business leaders.

The new educational business events will provide attendees with the chance to hear from Formula One experts and MIT's Sloan School of Management Executive Education faculty on successfully driving innovation under Chatham House rules.

The inaugural event, being held ahead of the Italian Grand Prix on 30th August, is currently oversubscribed. However the second in the series is already planned and will take place before the US Grand Prix in Austin on the 18th October. Four additional events are planned in 2019.

Launching the F1 Extreme Innovation Series, Bratches said: “The pace and change in the business landscape has never been more competitive, and to gain the edge it is essential that rapid innovation is central to a business’ core.

“Formula One has not just been a sporting triumph, but a blueprint for business success as well.

“Together with MIT management experts, we’re excited to share these lessons so that the next generation can learn how to embed F1-level innovation within their business.”

Ben Shields, senior lecturer at MIT’s Sloan School, added: “Collaborating with Formula One on this unique learning series is an exciting new way to educate business leaders worldwide. We are thrilled to be bringing MIT faculty to teach at Formula One circuits, and working with Formula One, we look forward to offering lessons in management, innovation, and technology that are applicable to a wide variety of industries.”