Hamilton could spark revenue boost

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

A leading sports finance expert believes Hamilton could spark a boom period after a recent lull due to the lack of a successful local hero in Formula One in recent years.

Alan Switzer, director in the Sports Business Group at Deloitte, said: "Local heroes can have a huge impact on the financial health of a sport. Lewis Hamilton's success has helped lift the British Grand Prix to become the third highest attended event in the UK's sporting calendar after Wimbledon and Royal Ascot."

He added: "Should Lewis consolidate his success, and even win the F1 title, motor racing can expect a significant revenue boost, particularly once existing broadcasting and sponsorship contracts expire.

"Broadcasters and corporates will compete to be associated with such a potentially attractive global sporting icon.

"ITV's current F1 television rights contract is reportedly worth around £25million a year.

"But the success of Lewis means that could increase substantially when it expires at the end of the 2010 season."

Switzer believes Silverstone will also benefit as circuit owners, the British Racing Drivers' Club, look to secure a new contract once the present deal expires in 2009.

"At a more local level, the increased ticketing revenue and secondary spend will form an important part of the funding mix for the redevelopment of Silverstone," added Switzer.

"This is almost certainly necessary for Silverstone to retain its grand prix in 2010 and beyond. Indeed, if extra capacity could be added to Silverstone, Lewis' success suggests it would be matched by demand."