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Wolff: Hosting fees are not sustainable
Liberty Media needs to look at other avenues for generate income for Formula 1 with Toto Wolff stating that current hosting fees are not sustainable. Last year Silverstone activated a break clause to cease hosting the British Grand Prix race after 2019, citing finances as the reason. That, though, is not the only race under threat. Hockenheim have also stated that they 'cannot continue' with the current conditions of their contract as they are taking huge financial losses. Wolff agrees these deals are not working for the circuits. 'Sanction fees were one of the three key revenue generators in the old Bernie Formula One business model. And he was exceptional at these deals,' the Mercedes...
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7y ago from PlanetF1.com
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