What started quietly on February 2, 2015 with its first official test day on the circuit in Jerez, Spain, has grown into a global hype in more than six years. The euphoric images of Max Verstappen's triumph on the Zandvoort circuit have spread around the world and have left a crushing impression on all continents. Formula One Management (FOM), which owns the rights to the premier class of motorsport through parent company Liberty Media, has not escaped the notice. With the American owner the order is more than clear. First there was Max Verstappen, then the ever-increasing interest in the Netherlands for Formula 1, then the unprecedented entourage around the race in Zandvoort, where, according to all experts, the boundaries for organizing a Grand Prix were drastically pushed back. 'Zandvoort' clearly served as the blueprint for the United States Grand Prix in Austin last October 24. The formula of racing, entertainment, surprising special effects and an assembly line of activities was also successful there, with an unprecedented number of 400.000 visitors in three days, almost 200.000 more than the previous record. In the meantime, the unprecedentedly exciting race at the Circuit of the Americas also had the same winner as in the Netherlands: Max Verstappen.
Magic of Max
In short: first there was the driver and then Max's magic did its work. Whether it concerns a municipality such as Zandvoort, the supermarket chain Jumbo or the initially abandoned Circuit Zandvoort: they all benefit from the effect that a unique sporting talent has. Even in Texas, where there was still an entry ban for Europeans at the time of the Grand Prix, parts of the stands were colored orange and Max T-shirts were worn everywhere. And so the question arises: what does Max Verstappen gain from this? In 2018, another Nielsen market research established that Verstappen is by far the athlete with the highest commercial value in the Netherlands. With his DBI score (combination of fame, influence, trust and value as a brand ambassador) of 83.10, relevant to the marketing world, he stood alone in his sector. In that year, viewing figures would rise to 1 million in Formula 405,5's twenty most important markets, with the Netherlands turning out to be one of Formula 1's five most important markets. Only in Brazil, Germany, Italy and Great Britain did more people watch a Grand Prix. A striking detail was that of the fans who discovered the sport in 2018 and 2019, 62 percent were younger than 35 years old.
Commercial strings
The resulting madness surrounding Verstappen is now managed by 'Verstappen Management', which consists of two people: father Jos and Raymond Vermeulen. This duo, which has now gathered a team of experts and advisors around itself, has ensured over the years that the commercial process surrounding the driver is kept clear and exclusive. That is why every choice comes close to the character of the sportsman Verstappen. Jumbo, CarNext.com, Ziggo and the international fashion brand Alpha Tauri are now his personal sponsors. All parties that are proactively involved with him. In addition, management keeps the commercial reins firmly in its own hands, mainly through social media. For example, the latest news about the Red Bull leader can be found on Verstappen.com; Anyone who wants to go to a Grand Prix with the certainty of a place on the special Max Verstappen Grandstand can do so via Verstappentravel.com; and at verstappenshop.nl, just like in the special Max Verstappen shops in Swalmen and Batavia Stad Fashion Outlet in Limburg, you can find clothing, scale models, accessories and caps. In addition, original and unique racing items from Verstappen can be admired in both stores, ranging from helmets to overalls and a real Formula 1 car. Son and father Verstappen.
Annual income
The boy who toured Europe carefree in a bus with his father ten years ago has grown into the center of a multi-million dollar company. After he renewed his contract with Red Bull in 2017, which increased his annual income to well above 30 million euros, his Austrian employer broke the contract at the beginning of 2020 and extended it until 2023. This brings his estimated earnings above 40 million euros per year. That will not change for the time being. Despite the triumph in Zandvoort, other much-discussed actions and the status of the most popular driver in the world. Or, as manager Raymond Vermeulen puts it: “An expansion of sponsors is expected until next year on hold. For us, the athlete has always come first and that still applies today. Especially considering the position in the rankings, this season is all about winning the world title and everything has to make way for that. The exception is Viaplay, which will have the Dutch broadcasting rights of Formula 1 from next year, allowing Ziggo to be replaced as a permanent partner. We are therefore discussing with Viaplay what a collaboration could look like.”
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MASTERS #48 with guest editor-in-chief Joseph Klibansky
