Business of Speed Podcast - The Cheap Seats Don't Keep the Lights On

Episode Date: October 8, 2025

A single race hosting fee can hit $70 MILLION—and that's before they even sell a single ticket. The real challenge for any track promoter? It’s absorbing the massive fixed liability and turning a one-time race into a year-round, profitable business.The truth is, the profit isn't in the Grandstands, it's with the executives in the Suites. Premium hospitality is the only sustainable margin driver.We're putting the circuit business on the lift and exposing the financial engine behind every major racing series, from F1 to IndyCar, using leverage, real estate, and B2B cash flow to survive.🏁 On This Episode of Business of Speed:00:00 The $70M Fixed Cost: Your Entry Ticket to Global Racing04:44 The Ultimate Leverage: Why a Racetrack is an Infrastructure Asset10:40 The Profit Driver: Why Luxury Suites Fund Your Favorite Race18:13 Ghost Tracks of Europe: The Need for Year-Round B2B Income21:30 The Subsidy Factor: How Cities Use Tax Dollars for PR (Vegas vs. Monaco)27:39 The 3 Non-Negotiables for Track Sustainability Checklist29:00 Real Estate Leverage: Inside the T11 "Car Condos" at COTA

So before we start our episode, Vincenzo, I have to apologize to you, unfortunately, and to our listeners already. It's only our third episode and I'm already apologizing. Because I listened back to our episode one. So we've had episode zero and then episode one. And in episode one, I was listening. And it turns out I have a catchphrase. Did you pick up on that? I'm Colombian. No. In Colombia. It's way worse. I was about to murder myself, actually. Apparently, I like to say the reality is. The reality is. And I'm listening and I'm getting aggro against myself thinking, Lali, how many realities can there be? Well, is it your reality or is it everyone else's reality? I don't know whose reality I'm living in, but apparently I live in a lot of realities. So I

wanted to apologize to everyone. And the reality is it's very unconscious, but I will make an effort today to not say the reality is. It's a Colombian thing. It's a Colombian thing. Well, I wasn't expecting that. So the reality is it's okay. Okay. Hola, Vincenzo. Hola, Lali. Welcome back to the Business of Speed podcast. I'm Vincenzo Landino and my co-host that you've already listened to talk about her realities, multiple realities, Lali Mikkelsen. Lali, let's talk a little bit today we've been having this discussion we had a little bit of this this discussion in new york and we talked a little bit about it last time we recorded tracks or circuits or just the races in general where the races are held i think there is the challenge with financials behind a

race is more than just what many of us see there's what the you know what the promoter has to put on There's hosting fees. There's a rights holder involved, whether it's Formula One or MotoGP or WEC or NASCAR, IndyCar, whoever the rights holder is. And we were talking about this because we had a conversation with the gentleman about premium hospitality and revenue diversification and how those seem to be the only paths to profitability. And it got me thinking, well, what are those entry costs and what is the kind of behind the scenes for a promoter when it comes to hosting an event? It's beyond buying some good signage, creating some cool videos. There's a massive entry fee, right? And if we talk about we're going to talk about Formula One, I think because the numbers are bigger there and they're more people, people can take to those numbers a little bit more. You're looking at, you know, what, 70 million dollars, let's say, to just have the privilege of hosting an event that buys you a license to operate your event. And the first thing that people ask, and we actually recorded this because we had recorded a clip.

One of the social clips that we made was around people not understanding supply and demand and why tickets are no longer 50 euros, 50 pounds, $50 for a weekend anymore and why it doesn't exist. We talked, we thought this was a good path to go down, understanding and answering that question. So how do we close the financial gap? how do you make up the difference you're going you're in the whole 70 million if you've built built a track from scratch which doesn't happen often anymore there's another hundreds of millions if not more that you're building but we can even start with like a track that's built you've paid your 70 million right but so if you think about it there's this like new show john ham it's called your friends and neighbors and some of our great show great show and there's a line in it that i

adore, and I'm paraphrasing him, and he says that rich people aren't broke, they're leveraged, right? So a racetrack is the ultimate leverage. You are leveraged beyond anything you've ever been in your life, right? So the promoter starts out in the hole. It's a massive fixed liability. The whole operation takes, not only think about it like concessions, hospitality, you have to make the track look beautiful. What if it rains? People don't show up. It's just this scramble to generate revenue only only in the function of offsetting this massive hosting fee that you just said could be up to 70 million dollars depending on the track so it's really like a gamble right it's this high-risk game and it's built on one massive and very fixed and very mandatory

expenditure right off the bat right so yeah maybe people don't realize the level of gamble that a promoter is in. People are like, oh my God, it costs so much money. I can't believe I'm paying this and that. They don't realize the risk involved for these promoter. Yeah. And it's not, it's risk. It's, it's real dollar. I mean, these are massive dollars you're dealing with. They're real businesses, right? These are businesses. We, I say, we fans tend to look at these things. We go to a football match or a basketball game or whatever it might be. And you just, you kind of come to expect certain a level of amenities right you you expect something when you go there you're paying a ticket to get a seat really but the modern game is a lot different you have two

separate businesses especially in motorsports right well i say it's most sports are like this you have motorsports is a clear model yes there's absolutely absolutely yes yeah that's actually great because oftentimes the promoter may not necessarily own the circuit where they race at either right there there could they are just paying to race at a circuit oftentimes it's not every day las vegas is very different but that's also a city circuit miami's different they own they own that not everything is like that not every situation is exactly like those but you have two real different businesses going on and they are competing with one another you've got your rights holder like we said formula one indycar nascar whoever the the racing body is

they're controlling things like the media the broadcast major sponsorships right which which that also gets tricky like in monaco where monaco was sponsored by tag heuer meanwhile formula one had rolex as the sponsor at the time now it's all one but things like that are a real situation Yeah, competing interests, competing stakeholders, for sure. How do you take, where do they take profit? What inventory does the promoter get to keep? What inventory can they, what do they have control over? I love this because I feel that this episode, Vincenzo, is going to help really clear up the business model for so many people.

And that's why we were both so excited about doing it, right? So you spoke to the rights holders. So think of a racetrack as having two silos. The rights holders that Vincenzo just talked about, that's one segment of the business. And then the other segment is the aforementioned highly leveraged promoter. So they get sort of, think of it like the local cash business. Things like ticket sales, concessions, all the trackside hoarding, and something that is sort of the marquee of a racetrack, the premium hospitality. Yeah, we should definitely touch on that a lot.

We're going to talk about that a lot because there's so much money there. So the right holders get the global value, but the promoter has to really like hustle to extract the maximum local sort of tangible assets. And unfortunately for the promoter, that's where operational risk lives. The right holder is getting their money no matter what. Yep. They get their checker up front. So right up front, the promoter, they operate in risk. They may or may not get their money. It's a gamble. Now, it is in the rights holder's best interest for an event to be successful, for a promoter to be successful. While the rights holders, you know, they get their money and that could be it. For an event to be successful means you're going to continue collecting that.

There's recurring revenue coming in. depending on the type of event there's other ways for them to make money again sponsorship an attractive location can attract new sponsorship again we we see that with las vegas and las vegas is top of mind because it's coming up and we'll be there and there's so many sponsorships that came in to formula one right holder because of las vegas which i know it's confusing because las vegas actually happens to be the right holder and the promoter all in one it's the first time Whatever that that's happened. Case study.

Yes. It's a unique case study. So we won't focus on it too much because we want this episode to be more broad appeal about, you know, more international racetracks and the business of international racetracks. Las Vegas is a unique case study. In Spanish, we say the exception makes the rule. In this case, it's sort of a very confusing rule. Yeah.

So we were, as we were going, we mentioned premium hospitality. Yes. We mentioned how the promoter needs to find ways to make margin, make their margin somewhere. General admission doesn't cut it. And that's where the comment we made, I think it was episode zero about people not understanding supply and demand. That's truly where this conversation comes into play. It is not enough to sell, you know, general admission tickets because that makes the fans happy. yes as a fan this is where the conversation gets tough but as a fan i would love for everybody to get access of course of course but also you never want to see empty grandstands i unfortunately see it often at indycar and that's not because of pricing that's because of lack of promotion of the series that's that's a whole other episode we can do but seeing empty grandstands is depressing nobody wants empty grandstands of course so paddock club vip suites experiences you know

the stuff that everybody wants to go to and wants to get tickets to or get access to which is also the same thing that there's a whole subset of people complain about yes so the that experience the premium hospitality there is there's an entire ecosystem economy behind premium hospitality at these events especially events like monaco where you have companies experiential companies that are selling yachts opportunities to watch the race from a yacht and hobnob with other folks just like you you know 30 40 50 60 thousand dollars i had someone reach out to me they wanted to go to the singapore grand prix and they asked me about they wanted premium they wanted a premium experience and so i connected them with a contact of ours and i said listen this is your

go-to guy go he has all the connections and they were like money's no object we just like we want that cool experience when you have someone say those words like money's no object we just want to experience this in a way that's either once in a lifetime or you know maybe people that can afford it more often than once in a lifetime how can you as a promoter say oh i want i want to feel more i want just more general admission you can't because it doesn't make sense because the reality the reality of a racetrack is that hospitality is the significant margin driver so maybe some people listening are familiar with how airlines make money um and and if they if they are and if you're not i'll quickly explain it and i'm sure we'll get messages of people correcting me but

airlines make the bulk of their money in their business class section and is this how it works in columbia or this how it works this is globally globally darling i'm kidding so an airline makes the bulk of their money selling business class section and loyalty credit cards so that's think of partnerships like American Express or Visa for instance where we get miles that has allowed sort of airlines to act sort of in a way as unregulated banks and it's made very profitable deals for them that can subsidize flying often at a loss perhaps or even breaking even so if you think about race tracks they follow a similar model just in terms of the business class seating right so if we if we think of business class seating as the suites and the corporate packages, they're supremely

high priced because they're bankrolling the entire operation. So luxury inventory delivers, depending on the track, depending on the package, five to 10 times a higher profit margin, right? So one standard ticket and you're getting 10 times higher profit margin. I mean, there's no competition there, right? So you need to have a good balance sheet at the end. This is a business. This is not a charity organization, so it's kind of simple math. You failed to sell out the suites, you might not even break even, even if you sell the entire hundreds of thousands of grandstand seats. So we like to say that the profit isn't with the fans and the grandstands, it's with the execs in the suites. That's the reality.

When it comes down to that balance sheet and you as a promoter need to pay that fee up front to host, need to absorb all the risk, you need to provide experiences for everybody. There still is a level of experience you have to provide for even folks in general admission and grandstands. There's still a level of experience. Again, I'll use Las Vegas as another example. It's the most recent Grand Prix I have been to. they do a great job in the different grandstands to create experiences for the people that bought in that grandstand so if you buy a ticket in the sphere area it's a party separate from the the area over by the start finish area it's a separate party from the paddock club obviously

it's a separate party from the different terms the harman zone the like it's a there are different experiences they've done a really good job at saying we're going to give unique experiences to people in different grandstands now those tickets they're reasonable by i would say maybe americans standards ticketing standards globally i i do understand that tickets are not cheap but there is a really good you get a really good experience there you do and i've i've even heard people saying oh i i sat here this year maybe next year i want to experience so you're all you're also creating like excitement around people wanting to come back and experience a different zone i've personally heard multiple people say that to me so they've done something quite clever

and i think that that is a model that can be replicated at other racetracks for sure we'll shift gears a little bit back track that's used once now road or street circuit can only be really used once right monaco it takes a definition to break it down and put it together even more i think i've been to i've been to monaco in middle of march and they've already been putting up uh, grandstands. I have a great, I have a great video that maybe I'll find a way to share. A good friend of mine lives in Monaco and he, he was saying, he showed a video of the whole tear down, like put, put together and tear down. And yeah, I'm pretty sure it's three, four months before. And it's about a month after. So you've got five months a year.

You're, you're living in fancy Monaco and for four to five months out of the year, you're, there's some kind of chaos for sure. Cause I know the fact that we were mid-March And it was already a lot of stuff going on. But not everything is a street circuit. There still are regular tracks. A track that is used once or for one type of race, one series, very underutilized, right? We talked about a promoter making their money or a track making its money. How are they making money beyond that one-time influx?

There has to be a year-round business. It has to be. It's essential. Yes. So I ask you, what other types of revenue streams can these tracks tap into when the big global series leaves town? So there's sort of the old school ones. So a track really to be profitable, to have a reason to exist, needs to be sort of an infrastructure asset, right? So that means that beyond the marquee event that happens only once a year, maybe if you're lucky, you also get a MotoGP race.

So you get two marquee events out of the year, right? But other than that, then that leaves a lot of free time for your track. So you need to do things like OEM testing, corporate driving programs, track rentals, storage, even even you and you can touch this a little bit. They're getting really creative with the type of events and experiences that they're doing. You have you have some great insight on things happening at Austin. But the reality is, there I go, that you need a healthy B2B. Only once. One time, guys, put it on the tracker. Without a healthy B2B income stream to sort of mitigate the cash flow that happens once a year, the track is doomed to fail. And you see there's loads of tracks in Europe, for instance, that are sort of dead and underused or not used. their ghost tracks, because they didn't figure out how to get a healthy B2B income throughout the year. And that is critical for the long-term survival of a track. Yeah. I love how you called out B2B income. Yeah, it has to be. Because it is. Corporations have the money. Hard stop. hard sell and where where i i try to blend or explain how this works to

fans that don't necessarily understand why things have gotten so corporate things have gotten so expensive in general so unless you the fan wants to eat all that cost like could you imagine how much a lot of these things would cost us sporting events if there was no corporate suites if there was no corporate sponsorship could you imagine imagine imagine it would be crazy it was truly one of those experiences where it's totally fan powered okay great are you gonna eat the cost of insurances and all the hospitality and all of the the the food the food and beverage like are you gonna front for all that because it would be outright you think it's expensive to go to a restaurant now and buy a bottle of wine could you imagine what or a drink could you imagine what

that would cost without all the corporate i i love that you mentioned insurance because we haven't touched on that but that is a huge cost as well for promoters right imagine the level of cost yeah just to ensure 300 000 people and the drivers and the helicopters and the medical care like The amount of money, right? Forget about that. Medical, security, all of those things that you don't even think about. That costs a lot of money. A lot.

Yeah. So then another thing that people may not know about is something that is called the subsidy factor, right? So many races are city-backed. And it makes sense for them because it has citywide economic impact, right? there's hundreds of thousands of people coming into your city. So that means hotels, restaurants, they're spending at your bars. It really generates a lot of income for the city. So a city will choose to subsidize a race just for the opportunity to be a host city, because that's a big deal. You can boast that you have a Grand Prix and not every city in the world can boast that. In fact,

very few right so it's a massive deal for the cities it brings in beaucoup de bucks and is massive pr it attracts a lot of tourism not only for the race but then people get to see your city your lovely city on television and then you might consider it as a as a destination for your next family holiday right so that is invaluable for a city so they choose to subsidize some races because of that yeah the subsidy there or i guess that that aspect of it tying that in to economic impact and economic economic impact is is huge right for a visitors a visitors bureau or again in the las vegas world you have the las vegas convention and visitors authority and you have las vegas who paid direct sponsorship into formula one you know close to 60 million dollars

i believe it was i don't remember the exact number off the top of my head but they paid a direct sponsorship and a support fee to host formula one and it may not sound like a lot but still that's public dollars right so that has to bring money back somehow to justify it anytime you're using public money you need to justify it there has to be a return because you're going to have a lot of angry people yeah there was there was people can be opinionated in 2023 the first vegas race, the economic impact was estimated over one point two billion. There was actual revenue in twenty twenty four of nine hundred and thirty plus million. To me, the gamble paid off. You know, that paid off. That's those are huge numbers. And it's it's going to stick around

for another 10 years. But because you can justify because you can say this is going to fund public schools, this is going to get us more teachers in classrooms, road infrastructure. So then you're you're not only telling the people, hey, we need to spend all this money. We need to inconvenience you by shutting down streets and all this for X amount of time. But the reality is, guess what? We got you a billion dollars in return. So that's going to go directly into the city. So then the people are like, you know what? I can be inconvenienced for two weeks out of the year. That's fine. Or whatever. I'm not sure how long it takes to build the Vegas. It takes quite a while. It's quite a bit of inconvenience for locals there.

Maybe a month. It's a bit. Yeah. And also here's the other thing too. And I think we'll talk about this. I'm going to ask you a question that i think i think you're going to touch on this but when we talked about monaco monaco's been there for 100 years the race there so it's so embedded in the culture of living in monaco the race the historic race all of that is is embedded into the culture motorsport racing in general yes it's an inconvenience but if you don't live in monaco if you don't know that right You know that's happening. They're knowing that.

In Las Vegas. Oh, go ahead, go ahead. No, I just said, this is a very unofficial poll. And please, Charles Leclerc, call in if you disagree with me. Please, Charles, call in. I venture guess that Monegasques in general, if there was a referendum about whether to keep the Grand Prix or not, they'd probably all want to keep it. Or I'm not going to say all, but I would say a majority would want to keep it. It's part of who they are.

It's their essence as a people. They're so proud of the event. If you're lucky enough to have ever been to Monaco, they're so proud of this race, of the heritage, of the culture around motorsport. So it's really other people who detest the racing in Monaco or don't think it's fun or you can't pass. Those are more the people that don't like Monaco. I think that the Monagasc people as a whole are very on side in this one. And that's just a very unofficial take. And I urge Charles Leclerc to call in if he disagrees.

las vegas the community there they don't know motorsport they don't care about formula one so it'll be a long it'll be a slog for formula one and the las vegas grand prix for a while before they become part of the community they still don't feel like part of the community it's kind of like this thing that came in and disrupted our world now mind you they've also taken the least the slowest weekend of the year and made it one of the busiest but that doesn't matter to people right if you inconvenience and inconvenience them they are they're annoyed and until they build up that motorsport aura it's not going to matter same thing with chicago nascar they had a chicago a street race and people complain now i heard a lot of good things about it but there was also

a lot of other issues and is there a motorsport community in the city of chicago in the actual city i'm not talking about chicagoland or anything like that talking about the actual city that people wanted to see that race there i don't know now they're already i believe they're reassessing and they're not going to have it this year they might come back next you know the year after whatever it might be but you have to build up that motorsport community i know you're going to talk on this so i'm going to ask you this question kind of a final chat here if we were advising someone on acquiring a new Grand Prix asset, what would be the top three non-negotiable items on their sustainability checklist? So I think the way you and I, and I'll speak sort of for both

of us because we are very in sync. Although we disagree on a lot of things, we agree on business 100%, which is a great thing for a partnership. I think that the first thing is something I spoke about previously, you have to control your premium inventory. That's non-negotiable. You have to sell out that inventory the highest rate possible. It's life or death for a circuit, really. For a race to have longevity, you need a promoter to make money. For the promoter to make money, they need to sell out this premium inventory, right? So that's right off the top, the first one. I think the second one we also touched on is your revenue diversification, You have to have cash flow, this B2B cash flow coming in year round or else you're going to end up with these ghost tracks of Europe that are everywhere.

You have to find a way to monetize the circuit. People are doing it in unique ways. It's not only the ways I mentioned now, the OEM test days or track days. There's suites being built. There's people who can fly in and bring in their own Ferrari. There's all kinds of really fun, creative ways to make money off your racetrack. You need to get in on those and you need to find some very clever B2B partnerships. Speaking of that, Koda has...

Yeah, speak to that. You have something. Yeah. The T11 car condos that they built. And it is this luxury experience. And I do want to talk about luxury in another episode because I think luxury is a very specific word. And it's a very specific phenomenon that Formula One brings on, but also other types of racing. it's luxury automotive it's it's a luxury automotive country club essentially

there you can buy these homes on those they range from i believe if you were able to get in at the very very beginning they were for you know you can get a smaller one for 400 almost 500 000 us but they went all the way up to 2.45 million you could get a small 1500 square foot all the way up to 6 000 square feet it's at turn 11 at coda nice and there are some really incredible incredible amenities i'm actually pulling it up right now because i don't want to miss out anything there's a private race platform viewing platform there's custom build out so you can build out however you want there's an entire clubhouse so think country club there's a pool there's conference spaces there's other clubhouse amenities like restaurant and bar just for your

community there yeah it's amazing there's a mezzanine space there's dedicated you get dedicated track time which again this is why similar to a golf club right a country club you get dedicated golf time well you get a little bit like the the john travolta home that you hear about that he flies that people fly in their seven people fly right into it and just park them in their house but yeah so these things like that's really cool there it's a whole that's a motorsport or a racing culture community they're building there yes you can buy into that and you have access to other like-minded folks all it does is it gives it gives the track it gives the it gives them another reason to stay around as long as possible bring more now they'll

want to bring more racing to the track right because all you have a group of people that are sitting here they don't want to sit around an empty track constantly but also that brings choway fees right like that brings other other other revenue streams i gotta find that i have to find the the numbers i had them at one point because the uh the developer had reached out to me this is a couple years back we had talked about doing some some promote co-promotion thing together but it's uh yeah it's just it's very very cool very very cool that sounds awesome yeah car condos so so going back you said sustainability so we said you control your premium inventory you uh diversify your revenue and then i think that there's a third one that

is really important and you have to forecast realistically so it takes time as you were saying to build a racing following you need to establish yourself as a racing destination you can't assume a sellout maybe the first year people decide to show up because oh wow it's it's vegas it's wherever you need to you need to really establish yourself you can't assume it's going to sell out year over year, but you also know that your hosting fee is fixed, right? So you have to really be careful with your forecasting, be realistic. And really that sort of gives me like a 3A or a fourth one, which is listen to your racing community. It's just what you were talking about. Build a racing community, tap into the local fans because they're going to

be major allies for your racetrack. They're going to be the ones when people stop showing up, They're going to be the ones that keep showing up and are there for you to support the racetrack. So you need to really listen to them, tap into them, and be kind to that fan base. I mean, without the community, you don't have anything. And without a community that is going to become your advocate, right? This is like anything else. Your community is going to become your advocate. And if you don't have that, you know, you miss out.

In Indianapolis, sorry to interrupt, but it's like when you think about Indianapolis Motor Speedway, right? There are people who have been seasoned ticket holders at Indianapolis Motor Speedway for generations. The seasoned ticket holders, some of these people don't even follow IndyCar the rest of the year. They show up for this one event because it's their family tradition and they've had these seasoned tickets. And I really, I have goosebumps because it means so much to them. It means so much to these families to go to the Indy 500. It's part of their family's heritage, their legacy. That track has done a phenomenal job of doing that, of building this community.

And truly, they hit it out of the park. They knocked it out of the park. The Speedway has become a character in and of itself. Yeah. It is the main character in its own conversation. Literally, people who do not follow any other IndyCar race will show up there and root like it was the last race of life. Because the racetrack itself has so much history, so much mystique, such a beautiful community has been built around that track. Obviously, that took a long time, but that is something to emulate and to try to build in your local city at your local track.

Those people will show up year after year if you treat them well. I think you've made it clear that what's important for a promoter to do is to focus on things like real estate negotiation. You know, you mentioned premium hospitality. Those are so important. It's not enough to the racing is very important. Yes, 100%. That goes without saying. But in today's world, there's so many other factors that go into it. It's not just a track. Go race around the track and call it a day. There's so many other things that go into it. And I think the circuit business itself or the being in that world, it's a discipline of leverage. Yes, there is the hosting fee that you have to pay. That's your entry ticket, right? So knowing that and understanding the cost, like we all have fixed monthly costs, right? Understanding that premium hospitality is your profit driver.

and if you don't own that you have to truly own that experience experience we use the word experience for a reason if you're not owning that premium luxury hospitality experience it you're just a glorified marketing platform for somebody else for a for the rights holder like you're just it's a past you know you're a pastor like okay yeah we host our we we have our race there it's a nice layout but they don't do anything for the fans and listen we've had a lot of conversations where we've heard things like there are some historic tracks that are not really budging on wanting to come up to the modern age with amenities for folks and there's a younger generation that's saying you know what i'd rather go to monaco because i want to go hang out on the

yachts like i don't want to go to this other track that's so historic and it's you know incredible racing, but I'm using a porta potty and I'm waiting in lines and it's hot. They don't even have water, you know, things like that. So all of that goes into effect. You don't want to just be somebody else's marketing platform. No, absolutely not. And you think about it, even the biggest corporations, they can only buy out certain hospitality suites a year. They can't buy them at every race. So you have to make yours the most attractive one. Yours has to have the best experience so that Qatar Airways or American Express or whatever humongous corporation is going to buy a hospitality suite wants to buy yours. I think on that note, we're going to call

this one. I think that's it for our paddock chat or our circuit chat this week. But we want you to make sure you come back for our next episode and the next episode. What you can do, subscribe to the podcast any of your favorite podcast player just go and hit a subscribe we are publishing weekly we also do have a newsletter that comes out multiple times a week that is basically an addendum or uh in addition to this podcast but it goes a little bit deeper onto just the world of the money behind your favorite racing series and what's happening behind the scenes how the sausage is made perhaps it speaks of the business of speed would you say yes that's that's why we call the business of speed. I'm Vincenzo Landino. I'm Lali Mikkelsen. We will see you on the next

one. Ciao for now. Ciao, ciao.