Formula 1 welcomes PwC as Official Consulting Partner

In a significant development within the sporting business landscape, Formula 1 has officially welcomed professional services firm PwC as its Official Consulting Partner.

This collaboration, which commences during this weekend’s Miami Grand Prix, pairs two dynamic organisations that are both dedicated to achieving high performance in the face of complex challenges.

The multi-year agreement aims to leverage PwC’s strategic consulting capabilities to enhance various aspects of Formula 1’s global operations.

This initiative aligns with the sport’s ongoing commitment to operational excellence and performance improvement, essential factors for maintaining its competitive edge in an ever-evolving market.

Commenting on the partnership, chief commercial officer of Formula 1, Emily Prazer, said: “As two brands founded upon the need to solve complex problems at the highest level, partnering with PwC is a natural fit for Formula 1.”

“Their consultancy expertise will support our complex and evolving business as we look to innovate and continue our global growth, and our global platform will enable them to bring their business to our millions of fans, both at events and watching at home,” Prazer said.

PwC US senior partner, Paul Griggs, added: “Formula 1 represents the kind of high-performance environment where strategy, speed and innovation converge – and that’s where PwC thrives.”

“As we work alongside F1’s team, we see an incredible opportunity to support them in their drive to the leading edge, bringing additional innovative thinking to complex challenges – helping them shape their future across an ever-changing global landscape,” Griggs said.

As part of the partnership, PwC will gain considerable access to the Formula 1 brand, including prominent signage at select races and opportunities to engage with clients and stakeholders at Grand Prix events throughout the season, expanding their visibility within the fanbase.

This partnership signals a promising shift in the partnership dynamics within the sport, as Formula 1 continues to enhance its operational strategies while providing PwC with a robust platform to engage with a diverse and expansive audience.

As initiatives such as this unfold, stakeholders across the sports business sector will undoubtedly be keen to monitor the resultant innovations and operational enhancements that arise from this collaboration.

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