Concept / confidential · Board and investor working draft · 19 July 2026

Engineered Edge · seven-year partner platform case

The premium city beside the race.

A proposed eToro Club benefit that gives eToro customers privileged race-weekend access—combining tier-based value, transparent pricing, contracted inventory and disciplined unit economics.

The Club Zone is a proposal, not an agreed Formula 1, Alpine, Gucci, eToro or promoter programme. All rights, marks, inventory and partner participation remain subject to contract.

Year 7 tickets480k22-race capacity case
Access modeleToro onlyClub value + customer access
7-year EBITDA€633.4mcumulative
Recommendation

Fund evidence first: a 90-day rights, partner and refundable-demand test—not Years 2–7 capital.

Review the five gates
01 · The investment case

Large upside.
Hard gates.

The case shows what the platform could support if rights, promoter access, paid demand, safety and operating quality are proven in sequence. It is capacity to test—not a forecast to believe.

3 pilot races22-race network€500 cost floorVerified owner routes

Proof · Formula 1 context

~6.7m

Reported 2025 annual race-weekend footfall across 24 races. This is not unique people and is not added to Club Zone ticket totals.

Source register

Value · The owned layer

Own the layer around the ticket.

Hospitality, sponsorship, destination packages, membership, commerce and consent-led relationships can compound when the same operating platform works race after race.

Gate · Rights perimeter

Rights before reach.

Written rights, promoter permissions, category conflicts, venue safety and inventory define what can be sold before scale enters the conversation.

03 · Proposed Club benefit

Make access part of belonging.

F1 Club is proposed as an eToro-customer benefit—not a public ticket product. Official eToro Club tiers and subscriptions remain unchanged; the hospitality entitlement below is a new proposal requiring approval.

Diamond ClubComplimentary invitations

Limited free invitations, allocated by event and subject to inventory, eligibility and local terms.

Eligible Club members + subscribers50% member price

€1,000 standard races or €1,500 premium races, with 1–2 invited friends depending on approved level.

Non-Club eToro customersFull customer price

€2,000 standard races or €3,000 premium races. Access still requires an eligible eToro account.

Non-eToro customersNo direct access

Participation only as an approved guest of an eligible member, within the event-specific guest limit.

02 · Scenario lab

Stress the scale.

Switch scenarios and years to test the plan. Base values match the downloadable model; downside and upside show transparent sensitivities, not alternative forecasts.

Model year
Races22calendar coverage
Deals / tickets480k21.8k / race
Revenue€787mannual capacity
EBITDA€267.8m34.0% margin
Delivery cost€500per person
Cumulative EBITDA€633.4mthrough selected year
Seven-year trajectoryBase scenario
RevenueEBITDATickets
04 · Gated roadmap

Earn the right to scale.

Each phase has a commercial proof point. Miss the gate, and the next capital envelope stays closed.

Year 1 · Prove

A deliberately small pilot portfolio.

Validate promoter access, rights boundaries, refundable demand, sponsor appetite and event-day delivery at three high-fit races.

  • Rights term sheet
  • 2+ sponsor LOIs
  • Safety feasibility
  • Paid demand threshold
04 · Race rollout

European control first.
Global coverage later.

Inspect the exact race plan behind each year. Direct venue-owner or promoter requests stay capped at 10,000 per race; higher totals depend on separately contracted adjacent or other approved inventory.

RaceTotal targetVenue / promoterAdjacent / otherOperating note
Download race rollout CSV
05 · Track owners

Verified routes.
A practical first wave.

Start with nine P1 owner, operator or promoter routes. Each row shows who controls the opportunity, how to approach them and where contracting-entity diligence is still required.

Open the outreach file ↓
RaceOwner / operator / promoterControl typeOfficial routeConfidenceStatus
06 · Unit economics

The curve is the thesis.

Delivery cost declines from €1,000 per person at a 1,000-person event to €500 at 10,000. Beyond 10,000, the model holds that €500 floor and requires parallel inventory categories rather than assuming unlimited event-level economies.

Cost curve€ / attendee
Modeled
Y1 blended ticket€1,74055% member / 45% non-member
Y1 perceived value€4k–€8ksupplied assumption
Y2 break-even€42.8mbase EBITDA after 60k tickets
Rights sensitivity5% → 15%revenue placeholder by year

Year 7 base revenue mix

Tickets lead. Platform layers compound.

Sponsorship and ancillary revenue do not replace ticket discipline; they widen the margin only after the audience and rights base are credible.

Ticket revenue€600m
Ancillary€132m
Sponsorship€55m
07 · The experience system

One city. Six reasons to return.

Modular experiences let each race express local culture without rebuilding the operating system.

01

Race intelligence

Telemetry theatre, live strategy explainers, expert hosts and market-to-motorsport storytelling.

02

Premium access

Race-adjacent hospitality, curated track moments and clearly tiered inventory.

03

Culture layer

Fashion, design, music and local creative programming—tasteful, contextual and rights-cleared.

04

Investor club

Member recognition, community tables, founder rooms and high-value B2B networking.

05

Destination

Travel, hotel, dining and city itineraries that extend value beyond the circuit perimeter.

06

After-race media

Consent-led content, highlights, membership and commerce that keep the relationship alive.

08 · Partner architecture

Modular by design.
Controlled by contract.

Proposed partners occupy distinct jobs in the system. Participation, rights and category exclusivity must be negotiated independently.

<etoro>Platform ownerAudience · data · membership · commercial system
Proposed target

Alpine

Team access, technical authority, driver and garage storytelling.

Proposed target

Luxury partner

Culture, design and premium clienteling. Gucci-inspired concept layer only; no approval implied.

Required

Promoters

Venue footprint, local rights, inventory, safety and operating permissions.

Commercial layer

Sponsors

Category packages linked to measurable experiences and customer outcomes.

Sponsorship packages

Sell outcomes, not logo inventory.

FoundingPlatform partner

Multi-race naming layer, category exclusivity, flagship experience and full content rights package.

Scarce · long-term
ExperienceModule partner

Own a repeatable customer journey: intelligence, mobility, dining, music, luxury or wellness.

Measurable activation
MarketLocal partner

Host-city relevance, destination extensions, local distribution and compliant market adaptation.

Race-specific
CommunityMember partner

Benefits, gifting, content or commerce that lives before and after race weekend.

Always-on
09 · Hidden opportunities

The flywheel beyond the gate.

Each layer increases lifetime value only when consent, quality and repeatability are designed in from day one.

01

Membership

Priority access, status and repeat-race privileges.

02

Commerce

Limited merchandise and rights-cleared collaborations.

03

Destination

Hotel, travel, dining and luxury itinerary margin.

04

Media

Original formats, highlights and sponsor-funded distribution.

05

B2B

Client entertainment, founder networks and executive hosting.

06

Insights

Consent-led audience learning—not data resale.

10 · Operating model

Hub-and-pod protects quality.

A central platform controls brand, rights, product, data, finance and safety standards. Local race pods execute within repeatable playbooks.

Global hubPlatform control

Rights · brand · product · CRM · finance · safety · procurement

Pod 01EuropePromoters + local production
Pod 02AmericasPromoters + local production
Pod 03Middle EastPromoters + local production
Pod 04APACPromoters + local production
RightsWritten perimeter before sale

Marks, footage, naming, inventory and local promoter permissions.

ConflictsCategory map before pitch

Luxury, alcohol, payments, mobility and existing team/F1 partners.

SafetyFestival-grade plan

Crowd, transport, weather, medical, safeguarding and crisis command.

ComplianceLocal review by market

Financial promotions, alcohol, privacy, consent and age gating.

DemandDeposits before capex

Refundable tests, sell-through milestones and waitlist conversion.

QualityStop scaling on variance

NPS, incident rate, queue time, staffing coverage and delivery cost.

11 · Capital plan

Stage the exposure.

Release capital against signed evidence—not calendar ambition.

90 daysDiligence + demand test

Rights counsel, promoter conversations, sponsor LOIs, refundable deposits, venue safety and tender benchmarks.

Decision only
Year 1€5m capex

Three pilots, reusable core build, product/CRM foundation and operational playbooks.

Release after gates
Years 2–3€38m capex

Regional hubs, repeatable production, expanded inventory and membership layer.

Release by cohort
Years 4–7€252m capex

Network-scale infrastructure and capacity—only after consistent contribution and rights renewal.

Not pre-approved

90-day gated recommendation

Prove the perimeter before funding the platform.

Authorise the 90-day diligence sprint. Return with written rights feasibility, partner intent, paid demand, safety proof and a re-based Year 1 decision.

  1. 01
    Rights + promoter access

    Written feasibility across priority races and a clear marks/inventory perimeter.

  2. 02
    Partner traction

    At least two credible sponsor LOIs with category conflict checks.

  3. 03
    Refundable demand

    Deposits or equivalent paid intent at target price points.

  4. 04
    Safety + operating proof

    Venue plans, transport, staffing ratios, incident command and vendor tenders.

  5. 05
    Board return

    Go / reshape / stop decision with a re-based Year 1 budget.

Source pack

Audit the case.