News Details
F1 organisation furloughs staff - Carey takes pay cut
The Formula One Group has reportedly placed half of its 500 employees on leave in face of the coronavirus crisis, while chief executive Chase Carey has taken a 20 percent pay cut. The global pandemic has disrupted lives and economies around the world, with Formula 1 not immune to the crisis. Brought to a standstill, the sport has seen its three revenue streams - race fees, television rights and sponsorship fees - potentially reduced to ashes for 2021 while FOM's overhead and running costs, estimated at $381m last year, remain. Williams puts employees on temporary leave amid COVID-19 crisis F1 also has yet to disburse to the teams part of their earnings from last year which are paid out on...
Full Story »
Full Story »
You May Also Be Interested In...
Williams furloughs staff as management and drivers...
Williams has confirmed that it has furloughed 'some' of its staff,...
5y ago from MotorsportWeek.com
Carey takes pay cut, F1 staff ‘disguntled'
Formula 1 chief Chase Carey is taking a '20 per cent' pay cut but that...
5y ago from PlanetF1.com
Sainz, Norris take pay cuts as McLaren furloughs staff
McLaren Formula 1 drivers Carlos Sainz and Lando Norris have both agreed...
5y ago from MotorsportWeek.com
Carey takes pay cut as F1 puts over 200 on furlough
Formula One chief executive Chase Carey is to take a significant but...
5y ago from SkySports.com
Elsewhere On The Network
Popular On MGPToday.com
Fermin Aldeguer to miss MotoGP season opener in...
Gresini Ducati has confirmed Fermin Aldeguer will miss the opening round...
1d ago from MotorsportWeek.c...
Marco Bezzecchi satisfied with ‘smaller’...
Marco Bezzecchi admits the Aprilia bike has slightly improved “in all...
1d ago from MotorsportWeek.c...
Fermin Aldeguer to miss Thai GP, Gresini names...
No description available...
1d ago from Motorsport.com
Jorge Martin sought Marc Marquez’s advice before...
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
Honda confirms early discussions for 2028 factory...
Honda, one of two engine manufacturers that supply IndyCar, has confirmed...
18h ago from MotorsportWeek.c...
IndyCar announces multi-year extension with engine...
The NTT IndyCar Series has announced a long-term continuation with both...
22h ago from MotorsportWeek.c...
IndyCar announces historic multi-year deal with...
No description available...
23h ago from Motorsport.com
Popular On TotalWRC.com
WRC Sweden: Elfyn Evans leads as Oliver Solberg drops...
No description available...
1h ago from Motorsport.com
Dacia announces exit from Rally-Raid, rules out 2027...
No description available...
1d ago from Motorsport.com
WRC Sweden: Oliver Solberg sets the pace to grab early...
No description available...
18h ago from Motorsport.com
Martins Sesks sets out target ahead of WRC return
No description available...
21h ago from Motorsport.com
Popular On GunnersToday.com
'Who could predict…' – Arsenal fans won't...
Arsenal manager Mikel Arteta has made a slightly unconvincing claim about...
1h ago from CaughtOffside.com
National team manager 'optimistic' about Arsenal...
Spain manager Luis de la Fuente has spoken about Arsenal midfielder Mikel...
44m ago from CaughtOffside.com
Episode 864 – Looking for the spark
Welcome to another episode of the Arsecast – the Arsenal podcast. In...
2h ago from Arseblog.com
Comments
Hottest News
F1 2026 – Bahrain test Day 3 live
It's the third and final day of running of the... Read More »
6h ago from MotorsportWeek.com
Crisis at Aston Martin? 'The gloves are off' as Alonso...
Two-time F1 champion Fernando Alonso has cut an... Read More »
3h ago from GPFans.com
F1 Testing Results: Bahrain timesheets as Lewis Hamilton...
The morning testing session on day three at the... Read More »
2h ago from GPFans.com
