>


Advertisement
Rumors
Rumor Rating Description
A rumor rated as 'speculation' is one that has no supporting information
A rumor rated as 'strong' is one where we received information from more than one source.
A rumor rated as 'fact' is one that has proven to be true
A rumor rated as 'false' is one that has proven to be false based on new information
These rumors are just that, RUMORS, and are not to be taken as 'fact' unless so noted.  Please visit our Hot News page for news.  If you have a rumor, or can supply more information about one listed here, e-mail us with as much supporting information as possible and we may post it. User Agreement and Disclaimer. Newer rumors supersede older ones of the same topic.  Go to our forums to discuss any rumor.
for your iPhone
for your iPad

2018 NASCAR Silly Season Page | 2020 F1 Silly Season Page | 2020 IndyCar Silly Season Page

Go to our forums to discuss this news
DATE News (chronologically)
03/14/20
f1
F1 teams to lose money over coronavirus situation
"If a grand prix pays more than $25 million,, we lose money," said Haas boss Gunther Steiner
"If a grand prix pays more than $25 million, we lose money," said Haas boss Gunther Steiner
(GMM) F1 teams are expecting to take a financial hit from the unprecedented coronavirus situation.

While the big teams have eye-watering budgets, Claire Williams admitted she is worried about the financial impact not being able to race will have on her Oxfordshire based team.

That is because about half of the small teams' budgets comes from official F1 income, which is derived in significant part from race promoters' fees.

"If a grand prix pays more than $25 million, we lose money," said Haas boss Gunther Steiner. "Below that, the loss is offset by the savings of not racing."

Racing Point team boss Otmar Szafnauer said: "We assume that the pot will be smaller."

Many believe the farcical delay in announcing the postponement of the Australian GP was essentially because of an argument about financial liability.

"The cancellation has many consequences, including financial," confirmed Paul Little, chairman of the Australian Grand Prix Corporation.

"There are many things to clear up with Formula One."

Prior to the cancellation, six-time world champion Lewis Hamilton rolled his eyes at the notion that "cash is king" in F1, even when health should be the priority.

F1 CEO Chase Carey denied that money considerations were behind the cancellation delay, but Austrian TV presenter Ernst Hausleitner applauded Hamilton for his courage in speaking out.

"That Hamilton dared to open his mouth shows the champion he is," the ORF presenter told Osterreich. "The others stood like lemmings, trusting in authorities who ultimately failed."

Rumors Archives
2000 2001 2002 2003
2004200520062007
2008200920102011
2012201320142015
2016201720182019
2020202120222023
AutoRacing1 Inc. BBB Business Review

Search Rumors
Search Help

Banner 10000012