F1’s Youngest Boss Takes Miami
Plus: Horner’s $100M Red Bull exit, Aston Martin’s luxury watch drop, Azerbaijan’s epic extension, and racing’s next million-dollar prize.
Even when there’s no Grand Prix, you can rest assured there’s plenty of news circling the business of speed.
And this past week was no different.
Katharina Nowak Becomes President of Miami GP
28-year-old Katharina Nowak has been named President of the Formula 1 Crypto.com Miami Grand Prix, making her the youngest president of any F1 event worldwide.
The Vienna native, who previously served as Vice President of Business Operations, replaces Tyler Epp who led the event since 2022 through four consecutive sellouts. Nowak joined the Miami Dolphins and Hard Rock Stadium enterprise in 2019, climbing through roles in events, corporate partnerships, and business operations. She’ll continue building on the Grand Prix’s success, which reached 275,000 attendees in 2025 and won the 2024 Formula 1 Promoter of the Year award. With only two women holding F1 event president positions globally (Emily Prazer at the Las Vegas Grand Prix), her appointment signals significant progress in motorsport leadership diversity.
Tyler Epp Joins Cadillac F1 as Global Head of Commercial Strategy
Cadillac F1 has landed a major commercial coup ahead of its 2026 debut, hiring former Miami Grand Prix president Tyler Epp as the team’s first Global Head of Commercial Strategy.
Epp, who has transformed the Miami GP from a startup to a sold-out sensation since 2022, brings over two decades of senior management experience across multiple sports. Under his leadership, Miami generated four of the five largest live U.S. television audiences in F1 history and secured a contract extension through 2041—the longest on the current calendar.
The hiring signals Cadillac’s commercial ambitions as the team seeks a title sponsor worth $55-70 million annually. Epp’s resume spans NASCAR (Hall of Fame Racing general manager), IndyCar (Chip Ganassi Racing operations director), NFL (Kansas City Chiefs executive VP), and MLB (San Diego Padres senior VP).
“We could not have found a better leader and visionary to build out the commercial arm of our team,” said Cadillac F1 CEO Dan Towriss. Team Principal Graeme Lowdon added that Epp’s “proven track record of cultivating organizations that set the standard in Formula 1” makes him invaluable for building the team from scratch.
Epp joins a leadership structure that includes experienced drivers Sergio Pérez and Valtteri Bottas, with existing partnerships already secured from Tommy Hilfiger (apparel) and Jim Beam (spirits). His appointment comes as Cadillac remains the only team currently seeking a title sponsor, positioning him at the center of what could be F1’s most high-profile commercial pursuit heading into 2026.
Aston Martin x Timex Collaboration
Timex Group and Aston Martin have forged a licensing partnership to launch exclusive watches and jewelry collections under both the Aston Martin and Aston Martin Aramco Formula One Team brands.
Announced at Timex’s Global Summit in Abu Dhabi, the collaboration will debut in Fall 2025 through Aston Martin’s retail channels and Timex’s global distribution network. The collections will feature signature Aston Martin design elements, including the iconic wings logo and Racing Green color scheme. This partnership marks Aston Martin’s first venture into watchmaking and jewelry, targeting F1 enthusiasts and luxury collectors alike with timepieces that blend automotive heritage with horological craftsmanship.
Christian Horner Leaves Red Bull With $100 Million Payout
Christian Horner has officially parted ways with Red Bull after reportedly settling for a reported $100 million, ending his 20-year tenure as team principal. Dismissed after the 2025 British Grand Prix, Horner’s departure comes with a financial agreement representing approximately 75% of his remaining contract through 2030. The settlement allows him to return to Formula 1 as early as the second half of 2026, with no non-compete restrictions preventing him from joining rival teams. Laurent Mekies has replaced Horner as team principal, with former Haas boss Guenther Steiner suggesting Red Bull appears “calmer” and “better off” under new leadership. The substantial payout ranks among F1’s largest severance packages in history.
Azerbaijan GP Extended to 2030
Formula 1 has confirmed a four-year contract extension keeping the Azerbaijan Grand Prix on the calendar through 2030.
The Baku street circuit, which debuted in 2016, was set to expire after the 2026 season but will now continue as a mainstay event. The 6-kilometer layout featuring technical sections through the historic old town and high-speed blasts along the Caspian seafront has consistently delivered unpredictable racing, with Sergio Perez remaining the only repeat winner. F1 CEO Stefano Domenicali praised the circuit’s unique character and the strong relationship with Azerbaijan’s government. The extension secures one of F1’s most dramatic venues for the remainder of the decade, celebrating its 10th anniversary this season.
Max Verstappen Wins at Nürburgring
Max Verstappen claimed victory in his debut GT3 race at the Nürburgring Nordschleife, dominating the four-hour NLS endurance event in a Ferrari 296 GT3. Starting third but quickly taking the lead, Verstappen built a commanding advantage of over one minute before handing the car to teammate Chris Lulham, who brought it home 24 seconds ahead of the field. The four-time F1 champion obtained his Nordschleife license just two weeks before tackling the notorious 12.9-mile “Green Hell” circuit. Verstappen expressed interest in competing in the Nürburgring 24 Hours, calling his maiden GT3 victory “fantastic” and hoping to gain more experience on the legendary circuit.
FIA Increases Cost Cap to $215 Million
The FIA will raise Formula 1’s budget cap from $135 million to $215 million for the 2026 season, reflecting global inflation and the inclusion of previously excluded costs. Financial regulations director Federico Lodi explained the $80 million increase doesn’t represent actual additional spending but rather brings existing expenses under the cap’s umbrella. The adjustment accounts for accumulated inflation since the cap’s introduction in 2021 and incorporates costs currently outside the regulatory perimeter. Additionally, Audi will receive salary adjustments recognizing Switzerland’s 35-45% higher wages compared to UK and Italian-based teams. The change maintains the cost cap’s core purpose while adapting to economic realities and new 2026 technical regulations.
Sophie Ogg Leaves McLaren
McLaren Communications Director Sophie Ogg will depart the team at the end of September, citing personal reasons and the lengthy commute to the McLaren Technology Centre in Woking. Ogg, who joined McLaren in February 2022, has been instrumental in shaping the team’s communication strategy during their recent resurgence. Her departure marks the continuation of a significant year of change across F1 communications teams, following exits at Red Bull, Aston Martin, and other teams. Ogg’s decision reflects the personal challenges faced by senior motorsport executives balancing demanding travel schedules with family life. McLaren has not yet announced its replacement, as it seeks continuity in its championship-contending communications operations.
Ford Runs Hypercar Program In-House
Ford Racing will operate its 2027 WEC Hypercar program entirely in-house rather than partnering with an external team, marking a significant departure from traditional manufacturer approaches.
Led by program manager Dan Sayers, formerly of Red Bull Powertrains, Ford is building a new UK-based team from scratch with support from Venture Engineering. The decision allows Ford to maintain complete control over development, operations, and the transfer of technology back to road cars. Ford is currently filling “dozens of roles” across engineering, mechanics, and operational positions for the ORECA-chassisized LMDh entry. This approach mirrors that of Toyota and Peugeot as one of only three fully in-house factory operations in the WEC’s Hypercar class.
Formula 3 Announces €1 Million Prize Fund
Formula 3 has introduced a €1 million prize fund for the top five championship finishers, supporting drivers’ progression to Formula 2 starting with the 2025 season. The champion receives €300,000, with decreasing amounts down to €100,000 for fifth place, distributed only to drivers advancing to F2 the following year. Combined with Pirelli’s existing €300,000 champion bonus, the F3 title winner now secures €600,000 toward F2 campaigns that typically cost €2-3 million. The initiative mirrors IndyCar’s Road to Indy program, providing financial support based on merit rather than backing. Current champion Rafael Camara becomes the first beneficiary, with the fund addressing the increasing costs of junior formula progression and supporting talent without significant financial backing.
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