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Formula 1 revenue drops by almost $600m in second quarter
Formula 1 owners Liberty Media has revealed the startling cost of the Covid-19 pandemic in its second quarterly report of 2020. The headline figures do not make for pleasant reading for F1 CEO Chase Carey or Liberty Media although these must be taken with a pinch of salt, as while seven races took place in the second quarter of 2019, no racing took place in the same period in '20. Article continues under video Even allowing for this, the numbers sting, with quarterly revenue down from $620million in '19, to $24m in '20, and while costs are down, the overall operating income dropped from a $26m profit to $122m loss. This is a change of negative 569 per cent. Carey is quoted in the report as...
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4y ago from GPFans.com
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