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Formula 1 extends financial recovery in second quarter
Formula 1 continued its financial recovery in the second quarter of 2021 in the wake of the global Covid-19 crisis. Revenue for the three-month period clocked in at $501m, a number that cannot be compared to the same period for 2020 as no races were held in the second quarter last year. However, relative to Q2 2019 - when Grand Prix racing enjoyed a normal schedule and generated $620m during the period - F1's revenue fell by $119m. Looking at the sport's bottom line, F1 narrowed its operating loss from $136 million in Q2 2020 to $43 million this year. While F1's competitors received no income in Q2 2020, the sport's ten teams shared $308m in the second quarter, a figure that was down from...
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