News Details
Formula 1 has 'advanced money' to certain teams - Maffei
Liberty Media CEO Greg Maffei says that Formula 1 has extended cash advances to several teams to help them deal with the sport's current economic downturn. Formula 1's disrupted season, a direct effect of the global coronavirus pandemic, has put significant financial stress on several outfits which are facing the prospect of a massive collapse in revenue in 2021. Teams rely on sponsorship revenue and income from FOM's prize fund, but both sources threaten to run dry depending on the number of races that shall take place this year. Liberty boss admits closed door events pose 'economic' challenge to F1 "We're not encouraging using our cash in an unwise fashion, but we're trying to...
Full Story »
Full Story »
You May Also Be Interested In...
F1 teams donate items for Covid-19 auction
Fighting the coronavirus requires money, a lot of money. In the past...
5y ago from GPBlog.com
F1 items up for charity auction
Fighting the coronavirus requires money, a lot of money. In the past...
5y ago from GPBlog.com
F1's owner has ‘scenario for zero races', some...
Liberty Media’s President says the corporation has “scenarios for...
5y ago from MotorsportWeek.com
Liberty Media komt in actie: 1,4 miljard dollar...
Liberty Media has confirmed Thursday that it will lend a helping hand to...
5y ago from GPBlog.com
Elsewhere On The Network
Popular On MGPToday.com
Michelin: “No anomalies” with Pecco Bagnaia’s...
No description available...
2h ago from Motorsport.com
Marco Bezzecchi not shocked by underwhelming sprint,...
No description available...
3h ago from Motorsport.com
Raul Fernandez claims podium pace at MotoGP Austrian GP
No description available...
4h ago from Motorsport.com
Pecco Bagnaia just can’t explain nightmare gremlins...
No description available...
21h ago from Motorsport.com
Popular On IndyCarToday.com
Strongest season yet for Pato O’Ward has been...
Pato O’Ward is having the best IndyCar season of his career, and is...
1d ago from MotorsportWeek.c...
McLaren to auction future F1, IndyCar and WEC cars in...
McLaren is to auction future F1, IndyCar and World Endurance Championship...
3d ago from MotorsportWeek.c...
Winners and losers from IndyCar’s Portland 2025...
No description available...
5d ago from Motorsport.com
Chip Ganassi: ‘We’re spoiled’ having drivers...
Alex Palou clinched the 2025 NTT IndyCar Series title over the weekend,...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Esteban Ocon's wild childhood dream: 'I wanted to buy...
No description available...
2d ago from Motorsport.com
How drones will change the way you watch motorsport
No description available...
3d ago from Motorsport.com
How WRC's crucial 2027 rules are falling into place
No description available...
4d ago from Motorsport.com
Kalle Rovanperä hits the jackpot
Kalle Rovanperä and Jonne Halttunen finally won Rally Finland, laying to...
2w ago from MotorsportWeek.c...
Popular On GunnersToday.com
Ruben Amorim to axe Man United star from squad to take...
Manchester United manager Ruben Amorim is reportedly set to leave Rasmus...
19m ago from CaughtOffside.com
Report: Mikel Arteta approves deal to sign Brazilian,...
Arsenal fans are probably hoping for more signings before the window...
2h ago from FreshArsenal.com
'The shirt is a bit heavier to wear than at Sporting'...
Former Watford striker Troy Deeney has conveyed his doubts over Arsenal's...
4h ago from SportsKeeda.com
Selection decisions as a new season kicks off
Morning all. Well, here we go again. The new season kicks off later this...
5h ago from Arseblog.com
Comments
Hottest News
One-off Ferrari Daytona SP3 sells for insane windfall in...
Ferrari fans and collectors went into overdrive... Read More »
1h ago from F1i.com
Helmut Marko orders Red Bull starlet to quit karting on...
Helmut Marko has been issuing advice to the next... Read More »
1h ago from GPFans.com
Why surprise Haas F1 test was an ‘audition’ for...
Toyota has stated that Sho Tsuboi's test for... Read More »
39m ago from MotorsportWeek.com
