Formula 1 will lose more than $ 43 million due to coronavirusFebruary 18, 2020
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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