News Details
Carey warns F1 is not in 'the business of handouts'
Formula 1 CEO Chase Carey says the sport will engage with teams to mitigate the effects of its economic downturn but warns that it won't be "handing out candy". The coronavirus pandemic has not only disrupted F1's calendar, it has also as a result crushed the financial prospects of the teams for 2020. From race fees to sponsorship deals and broadcast right, the truncated season will have a significant impact on all revenue streams. As an indication of the extent of the downturn, F1 announced on Thursday an 84% drop in revenue for the first quarter and a $137 million hit to the sport's bottom line! In the midst of the crisis, Carey has vowed to be supportive of the teams'...
Full Story »
Full Story »
You May Also Be Interested In...
Carey confirms Austrian double-header kick-off plans
Formula 1 chief executive Chase Carey confirmed that the sport was...
5y ago from F1i.com
Carey admits 'no racing' possible in 2020
May 8 F1 CEO Chase Carey has admitted it is possible there will be...
5y ago from OneStopStrategy.com
British GP 'not a sure thing' warns Silverstone boss
Silverstone managing director Stuart Pringle has warned that the British...
5y ago from F1i.com
McLaren boss warns big teams risk putting F1 out of...
McLaren Racing CEO Zak Brown says the big teams are risking the entire...
5y ago from Crash.net
Elsewhere On The Network
Popular On MGPToday.com
Luca Marini gets new Honda MotoGP deal for 2026
No description available...
37m ago from Motorsport.com
Marc Marquez likens his 2025 MotoGP form to 2019 and...
Marc Marquez has likened his 2025 MotoGP form to the peak performances...
17m ago from MotorsportWeek.c...
Brake problems again behind lack of pace for Francesco...
No description available...
16h ago from Motorsport.com
Marc Marquez only cares about MotoGP title and not...
No description available...
17h ago from Motorsport.com
Popular On IndyCarToday.com
The Winners and Losers of IndyCar’s 2025 Indy Toronto
No description available...
1h ago from Motorsport.com
IndyCar Toronto – Race Results
IndyCar completed its sole visit across the border this weekend, with a...
14h ago from MotorsportWeek.c...
Pato O’Ward, Arrow McLaren score strategic win in...
No description available...
14h ago from Motorsport.com
Kyffin Simpson rides two-stop strategy to breakthrough...
No description available...
12h ago from Motorsport.com
Popular On TotalWRC.com
How WRC rivals reacted to Oliver Solberg's first...
No description available...
3h ago from Motorsport.com
How the WRC service park reacted to Oliver Solberg's...
No description available...
16h ago from Motorsport.com
Oliver Solberg stuns with maiden WRC victory in Estonia
Oliver Solberg and Elliot Edmondson stunned the WRC elite with a...
21h ago from MotorsportWeek.c...
Oliver Solberg: WRC Rally Estonia win "biggest...
No description available...
17h ago from Motorsport.com
Popular On GunnersToday.com
Supersonic approach from Man United to ruin rival...
Manchester United have now entered the race to sign the Sporting CP...
57m ago from CaughtOffside.com
Mikel Arteta ‘100%’ sure Arsenal followed right...
t;li>Manager addresses situation regarding former midfielderPartey has...
1h ago from TheGuardian.com
Mikel Arteta responds after reporters ask him why...
Mikel Arteta has claimed that Chelsea have great players, and that is the...
37m ago from SportsKeeda.com
Viktor Gyokeres frustrated by Arsenal transfer delay...
Viktor Gyokeres is frustrated by the delay in his proposed move to...
2h ago from SportsKeeda.com
Comments
Hottest News
Cadillac F1 boss reveals driver attitude pushing him away...
Cadillac F1 team principal Graeme Lowdon has... Read More »
1h ago from GPFans.com
McLaren boss smashed winning British GP trophy
Jul.21 McLaren's technical director smashed... Read More »
1h ago from OneStopStrategy.com
Antonelli was ‘disappointed' with first F1 podium
Jul.21 A rumoured loan deal with Alpine would... Read More »
1h ago from OneStopStrategy.com
