New York (AP) - Formula 1 revenues have continued to collapse in view of the corona pandemic. As the rights holder Liberty Media announced in New York, sales for the second quarter of this year have plummeted to 24 million US dollars (approx. 20 million euros).
From April to June 2019, sales were still at 620 million US dollars (approx. 525 million euros). After a profit of 14 million US dollars (approx. Eleven million euros) in the second quarter of 2019, the premier class of motorsport even lost 136 million US dollars (around 115 million euros).
Formula 1 receives generous entry fees from the track operators, but due to the pandemic, all races had to be canceled or postponed in the first half of 2020. The series has been running again since the beginning of July - but only in front of empty grandstands. In 2019, seven Grand Prix took place in the second quarter. Compared to the first quarter of 2019, sales in 2020 had already fallen from 246 million US dollars to 39 million US dollars.
In its emergency season, Formula 1 wants to host a total of at least 15 races. According to its own information, the series is still trying to race in front of at least a few spectators in some races, taking protective measures into account. For example, for the Eifel Grand Prix on October 11th at the Nürburgring, there is a desire to allow fans if the conditions should change in the Corona crisis.
© dpa-infocom, dpa: 200810-99-115048 / 2
Communication from Liberty Media
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