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F1 News & Discussions => General F1 Discussion => Topic started by: Dare on June 06, 2021, 06:52:26 PM

Title: Racing for wealthy
Post by: Dare on June 06, 2021, 06:52:26 PM
How many of the pasts F1 Champs would be
unheard of now.


https://www.yahoo.com/autos/lewis-hamilton-says-racing-needs-115800275.html
Title: Re: Racing for wealthy
Post by: John S on June 06, 2021, 08:23:49 PM
Lewis is glossing over the fact that someone else picked up the tab for his racing career from about 13/14 years old onwards. He was heavily backed by Mercedes although McLaren like to take all the credit. So his Pa only really had to struggle to pay for the early karting years.

We see this repeated today with F1 teams backing a lot of individuals from F4 and then up the ladder - some make it, most don't and end up in other series.

Lewis should ask Nigel Mansel, who re-mortgaged his family home to get money for early drives on his way to F1, what it's like to put everything on the line for F1.

Methinks Lewis & Toto talk outta their arses sometimes.     
Title: Re: Racing for wealthy
Post by: Jericoke on June 06, 2021, 09:00:35 PM
Lewis is glossing over the fact that someone else picked up the tab for his racing career from about 13/14 years old onwards. He was heavily backed by Mercedes although McLaren like to take all the credit. So his Pa only really had to struggle to pay for the early karting years.

That's sort of the point, isn't it?  If it weren't for someone else's largesse, Hamilton wouldn't have been there.  How many other kids give up their dreams because they can't finagle that sort of deal?  (It's not just motorsports, it's any sport, plus a good deal of academic and artistic opportunities that are getting walled off.)

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We see this repeated today with F1 teams backing a lot of individuals from F4 and then up the ladder - some make it, most don't and end up in other series.

Assuming you need a few good karting seasons to get to F4, then you're looking at at least $500,000 over a couple years.  I'm paid pretty well, but I couldn't finance that.

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Lewis should ask Nigel Mansel, who re-mortgaged his family home to get money for early drives on his way to F1, what it's like to put everything on the line for F1.

How many young athletes own a house?!

Quote
Methinks Lewis & Toto talk outta their arses sometimes.     

There are few people who are better suited to do something about it.  Don't just say someone should do something... do something!

Imagine if Hamilton had, say 20 proteges.  How long before Max, Valterri and Seb decide they should join him?

Many years ago, while Bill Gates was still running the Microsoft Monopoly, I read an interview with a family friend.  He said that in 20 years Gates won't be known for Microsoft, he'll be known for his philanthropy.

How great would it be for Hamilton to put his good fortune and clout into creating an entire generation of racers?

In Canada, young hockey players are all sponsored by Tim Hortons, a coffee chain started by a hockey player (the player died before the chain became huge, but still, there's not a hockey player who doesn't have Tim Hortons to thank for their early years)

In the USA Pop Warner is synonymous with young foot ball players.

Hamilton could easily be the name people think of when it comes to young drivers.
Title: Re: Racing for wealthy
Post by: Alianora La Canta on June 06, 2021, 09:43:34 PM
Selling a typical home in Stevenage of the type Lewis's family is likely to have lived in - let alone mortgaging it - is likely to have got around 300,000, an amount that will just about get you a F4 season. The reason you don't hear about many people selling their homes to fund their careers is because it's rarely helpful enough to get the drive at F3/F2 level, and drivers needing to do this before that point are only likely to make it work if their parents can then get somewhere much cheaper that enables them to continue working (as Pierre Gasly was able to do). Plus it can only be done once - if you're doing it at F4 level or below, it's likely it would need to be done at least 3 more times to secure a F1 seat. Few people have 4 houses to sell. (Not to mention, the wealth bracket I think Lewis is aiming at is usually either in rental property, or already had a mortgage on their house before karting was on the cards, making a mortgage a non-starter. They'd regard Nigel Mansell as priviledged to have had the "mortgage" option).

Not many jobs allow the peripatetic lifestyle the Gaslys ended up with, though that number is increasing, and a family that downsizes but cannot support the family in the new household is not going to be able to support their budding driver in their career anyway.
Title: Re: Racing for wealthy
Post by: rmassart on June 07, 2021, 06:21:25 AM
(It's not just motorsports, it's any sport, plus a good deal of academic and artistic opportunities that are getting walled off.)

Not football (soccer).  It's the one great thing about football. Truly everyone can play and become excellent at it. Sure it needs a bit of luck, but not wealth. An empty coke can for a ball and two t-shirts for goal posts and you're good.

Going slightly off topic, I do agree it's really worrying that both academia and the arts are increasingly off limits for the poor. The UK government's decision to reduce funding for arts degrees is terrible.  There's also law and architecture where my understanding is that you need to work a year or two for free to learn the ropes, in some of the mot expensive cities in the world to get a good head start.
Title: Re: Racing for wealthy
Post by: monty on June 07, 2021, 10:55:16 AM
As I have said previously, my kids raced against Lewis in Karting. To be fair, Anthony Hamilton worked incredibly hard to fund Lewis. I know he had more than one job and he told me once that money intended for family holidays had been diverted into the 'racing' fund. Anthony was fanatical about getting Lewis into top-level motorsport. I suspect that was part of why his marriage failed.
Even back in those days my wife and I could see that with the level of budget we could afford, our kids would never progress beyond racing for fun. Most of the successful kids had family money and the families tended to be business owners rather than humble employees like me.
If you visit a track for almost any of the progression series you will note the number of Ferraris, Bentleys, Astons, etc. parked around the car transporters. The sport is dominated by the very wealthy. The only 'grass roots' motor sports are the one make series and shifter karts. Where the driver is often also chief mechanic., There are some very skillfull drivers in these series but they rarely get the breaks they deserve. I cannot see how this will change because there are so few good seats available; and there are still enough wealthy drivers prepared to pay for them. And when we are talking about 'wealthy' we aren't talking about tens of millions like the earnings of successful F1 drivers, we are talking about corporate billions like Mazepin, Stroll, Latifi
Title: Re: Racing for wealthy
Post by: John S on June 07, 2021, 03:52:41 PM
I feel there's also a need to address nepotism in motorsport as well. Look through any single seat series and you'll find very many offspring and relatives of former F1 racers. Some use their own money to further juniors career, however too many rely on the inside track to access sponsors and present team backers. 

 
Title: Re: Racing for wealthy
Post by: Dare on June 07, 2021, 11:15:39 PM
I feel there's also a need to address nepotism in motorsport as well. Look through any single seat series and you'll find very many offspring and relatives of former F1 racers. Some use their own money to further juniors career, however too many rely on the inside track to access sponsors and present team backers. 

 


Same in Indycar. You have sons and grandsons racing
now. Wonder how many could have been greats don't
get the chance. At least Marco A finally had the sense to
figure out he's not that good.
Title: Re: Racing for wealthy
Post by: Alianora La Canta on June 07, 2021, 11:29:44 PM
Going slightly off topic, I do agree it's really worrying that both academia and the arts are increasingly off limits for the poor. The UK government's decision to reduce funding for arts degrees is terrible.  There's also law and architecture where my understanding is that you need to work a year or two for free to learn the ropes, in some of the mot expensive cities in the world to get a good head start.

A city near me is trying to do something about the law situation, by having a paid internship scheme for new law graduates. Definitely doesn't address the situation nationally, nor help with the arts.
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