Today's round-up of news in the sports business industry, including: Formula 1's new future, England Netball's extended partnership with Red Bull, Konami's win over rivals EA Sports and more...
F1 exploring new engine manufacturers
Formula 1’s new chief executive Stefano Domenicali is exploring potential new engine manufacturers.
"I think that one of the biggest challenges that automotive manufacturers have today is to feel younger,” Domenicali told Sky Sports. “There is this kind of fight between the old school of OEM [original equipment manufacturers] and the new OEMs that are coming in the mobility side.
He also disclosed plans on alternating the race format: "We are thinking how to keep the racing format alive in a different way."
Welsh government announces £17.7 million funding
The Welsh government has announced a new round of funding for sport governing bodies in the country, totalling £17.7 million.
The money will help sports that have lost spectators due to COVID-19 restrictions, with most of the funding going to the Welsh rugby union through a £13.5m grant.
England Netball announces Red Bull partnership extension
England Netball has announced a multi-year extension with its official performance drink supplier, Red Bull.
The partnership will see the energy drink manufacturer continue its association both in training and on court through to 2023.
“We are delighted to extend our partnership with Red Bull, especially after what has been an incredibly tough year for sports across the country,” said Fran Connolly, CEO, England Netball.
Konami beats EA Sports to AFC deal
Sports games publisher Konami has seen off interest from its rival EA Sports to secure a licensing and sponsorship rights deal with the Asian Football Confederation for the 2021-24 cycle.
Konami will use the licensing rights in its Pro Evolution Soccer (PES) game. EA Sports, publisher of the popular FIFA series, was understood to have also been interested in acquiring the rights.
NBC Sports Network shutting down in 2021
NBCUniversal is shutting down NBC Sports Network by the end of 2021. moving its sports related programming to the USA Network cable channel and Peacock streaming service.
An internal memo circulated amongst staff read: ‘At the conclusion of 2021, we have decided that the best strategic next step for our sports group and the entire company is to wind down NBCSN completely, with key elements of NBCSN’s programming moving to USA Network and, in some cases, Peacock for 2022 and beyond.
Author: Jake Wilkin