News Details
F1 secures $2.9b loan amendment to help with financial difficulties
Formula 1 has been granted an amendment of the conditions on a $2.9b loan in order to help it weather the COVID-19 pandemic, it was announced on Monday. Under both the amended loan and an attached $500m credit facility, F1's owners Liberty Media will be allowed a greater debt-to-profit ratio in order to compensate for the loss of revenues in the coronavirus-affected 2020 season. In a statement accompanying the announcement, Liberty explained that “subject to compliance by F1 with certain additional conditions, the net leverage financial covenant shall not apply until 1 January 2022”, meaning F1 will not have to comply with the original terms of the loan until that date. “Formula 1...
Full Story »
Full Story »
5y ago from GrandPrix247.com
0
You May Also Be Interested In...
McLaren secures £150m loan from Bahrain bank to ease...
McLaren's immediate financial concerns have been eased following the...
5y ago from GPFans.com
Report: McLaren to receive loan from National Bank of...
McLaren are on the verge of securing a loan from Bahrain's national bank...
5y ago from GrandPrix247.com
McLaren secures vital £150m loan from Bahrain's...
McLaren's short-term future has been secured after confirmation of a...
5y ago from MotorsportWeek.com
Confirmed: McLaren to receive £150 m loan from...
UPDATE: McLaren have now confirmed that they will receive £150 million...
5y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Should there be a tear-off rule following Marco...
No description available...
13h ago from Motorsport.com
Miguel Oliveira reveals what’s ‘more difficult’...
Miguel Oliveira says WorldSBK’s race weekend format is harder to adapt...
18h ago from MotorsportWeek.c...
MotoGP eliminates wildcard riders from 2027 season
No description available...
1d ago from Motorsport.com
How MotoGP’s energy drink landscape could shift
No description available...
1d ago from Motorsport.com
Popular On IndyCarToday.com
Mick Schumacher shares injury update after breaking...
No description available...
1d ago from Motorsport.com
Dual-tone Chevy ZR1X pace car revealed for...
The NTT IndyCar Series has revealed the Chevrolet pace car for the...
1d ago from MotorsportWeek.c...
Rookie Caio Collet tops last day of Indy 500 Open Test...
No description available...
2d ago from Motorsport.com
Rookie Caio Collet fastest in two-day Indy 500 open...
The NTT IndyCar Series held its traditional two-day open test for the...
2d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Toyota steps up WRC 2027 car testing with new look...
No description available...
2d ago from Motorsport.com
M-Sport weighs up WRC new car build as all options...
No description available...
2d ago from Motorsport.com
How Dani Sordo brings "different ideas" to...
No description available...
2d ago from Motorsport.com
Oliver Solberg explains crash that ended WRC Canary...
No description available...
5d ago from Motorsport.com
Popular On GunnersToday.com
PSG and Bayern in ‘different world’ to tired...
t;li>Arteta: ‘The difference in the leagues is night and...
6h ago from TheGuardian.com
Declan Rice faces potential UEFA Champions League SF...
Arsenal star Declan Rice is reportedly facing a ban for the UEFA Champions...
8h ago from SportsKeeda.com
Arsenal chief personally scouts in-form 25-G/A star in...
Arsenal are interested in signing the Galatasaray attacker Baris Alper...
12h ago from CaughtOffside.com
Fulham boss wants side to use potential nerves inside...
Fulham manager Marco Silva has urged his side to use potential nerves...
12h ago from SportsKeeda.com
Comments
Hottest News
2026 F1 Miami Grand Prix - Sprint start time today
Find out the start time for 2026 F1 Miami Grand... Read More »
59m ago from RacingNews365.com
F1 2026 Miami Grand Prix – Sprint Qualifying Results
Lando Norris took a stunning sprint pole... Read More »
6h ago from MotorsportWeek.com
Norris bounces back as FIA makes rare error
Lando Norris bounced back to end Mercedes'... Read More »
3h ago from RacingNews365.com
