The FINANCIAL -- Formula One broadcasts to 1.88 billion viewers in 187 countries each year, but the sport's profile is relatively new to Central Texas, according to The University of Texas at Austin. As Austin builds the United States' first ever purpose-built Formula One Grand Prix facility, students got an up-close look at what it takes to market an F1 team.

On Jan. 19, Matt Jones, head of marketing services for the Williams Formula One Team, gave a presentation titled "Glamour and Grit: The Marketing of a Formula One Race Team." Jones described the complex strategy that goes into forming team sponsorships and partnerships. Based in the south of England, the Williams F1 team has won 16 Formula One World Championships since its formation in 1977.

The talk was part of the EU-US Distinguished Business and Politics Lecture Series, sponsored by the UT-Austin European Union Center of Excellence, the McCombs-based Center for International Business Education and Research and the Center for European Studies. The lecture series strives to present lectures that illustrate the importance of business and political relationships between the U.S. and the EU. 

Thanks to a 10-year race contract, Formula One will soon be a regular Austin event, and Jones' insight gave UT students and locals a small taste of the business and marketing work that goes behind each team.

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