How missing AFL’s top job drove the F1 Grand Prix CEO

F1 goes female and family friendly

The demographics are also changing: last year, 37 per cent were first-time visitors, and 39 per cent of attendees were female, above the global average of 28 per cent.

Auld is pushing hard to broaden it further. This weekend features high-profile music acts Jet, Amy Shark and Empire of the Sun; some of Melbourne’s best pop-up restaurants; more shade and toilets, and a new family zone featuring Batman which offers slides, climbing walls and golf simulators.

“This sport is experiencing phenomenal growth globally, and we’re at the very pointy end of that,� Auld says. “The reality is we could sell more tickets today but our focus for 2024 is on the experience.

“We still have our avid F1 fans and we’ve got to make sure they are looked after, but we need to make sure that we have something for everyone.

“Our challenge is to continue to evolve the event in line with the changing demographics; this year you will see our focus on families and connection to iconic Melbourne brands.�

But other big challenges remain. The cost of running the race has spiked significantly.

The Australian Grand Prix Corporation – also responsible for the Australian Motorcycle Grand Prix – spent $198 million to stage last year’s race at Albert Park, an increase of $44 million, or 29 per cent from 2022.

The cost of this to taxpayers is now more than $100 million, up from $78 million in 2022. Auld counters that revenue is now $97 million and set to top $100 million for the first time this year, close to double the $55 million figure achieved in 2019.

It’s a long way from the disaster of 2020 and 2021 when the pandemic cancelled the race. Auld also repeatedly points to an EY study which found the economic benefit to the state was $266 million.

Your success is determined by the strength of your relationships.

— Travis Auld

“The race is right on the doorstop of Melbourne, and so we will spill 130,000 people back out to the city at 6pm at night,� Auld says.

Among his major revenue lines – ticket sales, hospitality, merchandise and sponsorship (broadcast rights are held globally) – hospitality is the largest and has grown by 20 per cent since last year, with initiatives such as “the 330 Club� launching this year.

It has also launched a networking lunch for corporate leaders on Thursday, amid a plethora of Australian billionaires pouring money into Formula 1.

Perth billionaire Laurence Escalante sponsors the Ferrari team, while Jack Zhang’s Airwallex is now a partner of McLaren

“One of the things that has surprised me is the extent to which corporate Australia and the very senior leaders of this country are connected to the sport,� Auld says.

“I’m not someone who professes to have a long history in motor sport. But you’re in the relationship business and, ultimately, I believe your success is determined by the strength of your relationships.�

Auld knows better than most there can be a fine line between winning and losing. Your career can be a race and your fortunes can change in a moment.

After 25 years as a leader within the AFL, including as the inaugural CEO of the Gold Coast Suns and the last 10 at AFL House as finance chief, Auld had set his sights on the top job and was not hedging his bets.

‘There can only be one winner’

But after a painful 12-plus month process, the job finally went to long-time AFL executive Andrew Dillon last year, leaving Auld with a difficult decision.

“I’m really proud that until the day the decision was made, we worked really well together. We are still really close today. There can only be one winner. I think Andrew Dillon will do a fantastic job, he’s a fantastic person, he’s been in the industry for a long time and very connected to the game.

“When that happened I had to make a decision, do I stay in the industry or do I try something else? Just through pure, good fortune, the CEO of the Australian Grand Prix Corporation role came up.� (Andrew Westacott departed last year after 11 years in the job.)

“The timing was perfect when this role came up. I threw my hat in the ring and was fortunate enough to get it.�

Former Victorian sports minister Martin Pakula is now chairman of the AGPC, replacing Paul Little. Pakula also has a role at the AFL and reported to Auld before he departed.

“I never stop reminding him how the tables have now turned,� Pakula jokes.

“I think he’s an absolute coup for the AGPC. He has a deep appreciation of the importance of organisational culture, stakeholder management and of how to run and build events.

“Given that we’ve got the GP until at least 2037, I’ve got no doubt Travis will use that runway to create something spectacular.�

Auld, who is married with three children, seems to have made a habit of being in the right place at the right time to advance his career.

Growing up two hours north of Melbourne in Tatura, he studied business at La Trobe University and became a chartered accountant at what is now Grant Thornton. After a short stint in London, he became the auditor for two AFL clubs, Essendon and the Western Bulldogs.

“I had discovered [Essendon] were breaching the salary cap, and so I went to the CEO Peter Jackson, and Peter said, ‘well, you’ve created this mess, so you better come and fix it’. I started with Essendon in the mid-90s during a very successful period when they hardly lost,� Auld says.

“There were conversations about me becoming CEO, but then the Gold Coast Suns role came up. I thought it would be good practice just to prepare for it. I got down to the pointy end and thought, actually this is something I would love to do because I hadn’t been a CEO before.�

After five years as the Suns CEO, the AFL’s then-CEO Gillon McLachlan approached him to join AFL headquarters. “I think my initial answer was no, but if you know Gill, he doesn’t take no for an answer, so he just persisted until I said yes.�

But Auld had developed a taste for being the CEO, which played into his thinking when he missed the AFL’s top job. “It does remind you how much you like to lead, and that’s what I’ve enjoyed about this role,� he says.