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F1 posts $104m quarterly loss as COVID weighs on results
The Formula One Group posted a $104 million loss for its third quarter of 2020 as results were impacted once again by the global coronavirus pandemic. F1's disrupted season got underway in July at the start of its fiscal Q3, with ten races unfolding during the three-month period. But closed gates at all events, with the exception of the Russian GP where a limited number of fans were in attendance implied, and special deals agreed with promoters to facilitate events in Europe led to a drop in revenue of $36m for Q3 relative to the same period in 2019. However, the additional number of events that took place between the start of July and the end of September generated an increase in...
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