Formula 1 will lose more than $ 43 million due to coronavirus

Formula 1 will lose more than $ 43 million due to coronavirus

February 18, 2020 0 By autotimesnews

When the promoters of the Grand Prix of China from the Juss Sports Group asked the FIA ​​and Liberty Media to postpone the race, the force majeure protocol came into effect, suspending the financial obligations of the parties.

The promoter does not have to pay a fee for the Grand Prix, but Formula 1 also loses a certain income – not only from the contribution, but also from the sale of paraphernalia, places in the Paddock club, television broadcasts.

The British press writes that only direct losses will amount to $ 43 million, but there are still losses of companies associated with the Grand Prix of China, albeit indirectly, but very significantly – in tourism, in the hotel business, in the field of air travel and the media. The amount of losses can be more accurately estimated in a year when the financial statements will be published, but the numbers are very serious.

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