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Booming Business of F1 Explored in Documentary Airing Ahead of Las Vegas Grand Prix 

Red Bull Racing's Dutch driver Max Verstappen races during the 2023 United States Formula One Grand Prix at the Circuit of the Americas in Austin, Texas, on October 22, 2023. (AFP)
Red Bull Racing's Dutch driver Max Verstappen races during the 2023 United States Formula One Grand Prix at the Circuit of the Americas in Austin, Texas, on October 22, 2023. (AFP)
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Booming Business of F1 Explored in Documentary Airing Ahead of Las Vegas Grand Prix 

Red Bull Racing's Dutch driver Max Verstappen races during the 2023 United States Formula One Grand Prix at the Circuit of the Americas in Austin, Texas, on October 22, 2023. (AFP)
Red Bull Racing's Dutch driver Max Verstappen races during the 2023 United States Formula One Grand Prix at the Circuit of the Americas in Austin, Texas, on October 22, 2023. (AFP)

Formula One fanatics will get more behind-the-scenes access to the global motorsports series through a new CNBC documentary that explores the business aspects of the highest form of racing in the world.

The documentary "Inside Track: The Business of Formula 1" will debut Nov. 16 on CNBC ahead of the inaugural Las Vegas Grand Prix. The Las Vegas race is a third stop in the United States this season as F1 has expanded through North America behind a burst of popularity sparked by Netflix’s own docudrama on the series.

While the "Drive To Survive" series on Netflix focuses on the competitors and the drama of F1, the CNBC one-hour documentary will analyze the finances, revenue, and expansion of the series, as well as the role of sponsors.

CNBC anchor and documentary host Sara Eisen said the program is a "true passion project for me."

"I was initially drawn to F1 because my two young children love the sport, but once we started watching the races together, I realized there was something undeniably fascinating from a business perspective that demanded a full exploration of the sport as it reaches new heights in America," Eisen said.

She said the program will explore how the business of F1 "stands firmly at the intersection of sports, technology and culture."

Eisen will take a closer look at attendance, viewership, and market value, as well as next month’s Las Vegas race that is being promoted by F1. Eisen reports from four different F1 venues and had access to Liberty Media CEO Greg Maffei, who discusses the series’ growth since Liberty took over the commercial rights in 2017.

Eisen also interviewed F1 CEO Stefano Domenicali, as well as team leaders from Red Bull, Mercedes, McLaren and Haas, and drivers Lewis Hamilton, Kevin Magnussen and Nico Hulkenberg. She delves into engineering, revenue sharing agreements and Red Bull’s recent domination and its effect on competition and viewership.

The program also examines the fan experience with a look at the Las Vegas Grand Prix, which is expected to be the most expensive event for spectators on this year’s F1 schedule. Eisen also interviews F1 Academy managing director Susie Wolff with a focus on female drivers.

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Naomi Campbell Barred from Being Charity Trustee in England and Wales

British model Naomi Campbell cries after being awarded the 'Chevalier de l'ordre des Arts et des Lettres' (Knight of the Order of Arts and Letters) title at the French Ministry for Culture in Paris on September 26, 2024. (Photo by Anne-Christine POUJOULAT / AFP)
British model Naomi Campbell cries after being awarded the 'Chevalier de l'ordre des Arts et des Lettres' (Knight of the Order of Arts and Letters) title at the French Ministry for Culture in Paris on September 26, 2024. (Photo by Anne-Christine POUJOULAT / AFP)
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Naomi Campbell Barred from Being Charity Trustee in England and Wales

British model Naomi Campbell cries after being awarded the 'Chevalier de l'ordre des Arts et des Lettres' (Knight of the Order of Arts and Letters) title at the French Ministry for Culture in Paris on September 26, 2024. (Photo by Anne-Christine POUJOULAT / AFP)
British model Naomi Campbell cries after being awarded the 'Chevalier de l'ordre des Arts et des Lettres' (Knight of the Order of Arts and Letters) title at the French Ministry for Culture in Paris on September 26, 2024. (Photo by Anne-Christine POUJOULAT / AFP)

British supermodel Naomi Campbell has been barred from being a charity trustee in England and Wales for five years after the poverty charity she founded nearly two decades ago was deemed Thursday to have been “poorly governed” with “inadequate financial management.”
Following a three-year investigation into the financial activities of “Fashion for Relief,” the Charity Commission, which registers and regulates charities in England and Wales, said it had found “multiple instances of misconduct and/or mismanagement,” and that only 8.5% of the charity’s overall expenditure went on charitable grants in a six-year period from 2016.
For example, it said that thousands of pounds worth of charity funds were used to pay for a luxury hotel stay in Cannes, France, for Campbell as well as spa treatments, room service and even cigarettes. The regulator sought explanations from the trustees but said no evidence was provided to back up their explanation that hotel costs were typically covered by a donor to the charity, therefore not costing the charity, said The Associated Press.
Campbell, 54, said she was “extremely concerned” by the findings of the regulator and that an investigation on her part was underway.
“I was not in control of my charity, I put the control in the hands of a legal employer,” she said in response to a question from the AP after being named a knight in France’s Order of Arts and Letters at the country's culture ministry for her contribution to French culture. "We are investigating to find out what and how, and everything I do and every penny I ever raised goes to charity.”
The commission, which registers and regulates charities in England and Wales, also found that fellow trustee Bianka Hellmich received around 290,000 pounds ($385,000) of unauthorized funds for consultancy services, which was in breach of the charity's constitution. She has been disqualified as a trustee for nine years. The other trustee, Veronica Chou, was barred for four years.
“Trustees are legally required to make decisions that are in their charity’s best interests and to comply with their legal duties and responsibilities,” said Tim Hopkins, deputy director for specialist investigations and standards. “Our inquiry has found that the trustees of this charity failed to do so, which has resulted in our action to disqualify them.”
The charity, which was founded in 2005 in the aftermath of Hurricane Katrina in New Orleans, was dissolved and removed from the register of charities earlier this year. On its website, which is still active, the charity said that it presented fashion initiatives and projects in New York, London, Cannes, Moscow, Mumbai and Dar es Salaam, raising more than $15 million for good causes around the world.
The charity had been set up with the aim of uniting the fashion industry to relieve poverty and advance health and education, by making grants to other organizations and giving resources towards global disasters.
The commission said that around 344,000 pounds ($460,000) has been recovered and that a further 98,000 pounds of charitable funds have been protected. These funds were used to make donations to two other charities and settle outstanding liabilities.  
“I am pleased that the inquiry has seen donations made to other charities which this charity has previously supported,” said the regulator's Hopkins.