Formula 1 News: Shareholders paid EUR 20m as Zandvoort walks away

(GMM) The decision to end the Dutch Grand Prix after 2026 is facing renewed scrutiny after it emerged that shareholders behind the Zandvoort (pictured) project paid themselves a EUR 20 million dividend – despite citing financial uncertainty as a key reason for not renewing their Formula 1 contract.

Formula 1 will visit Zandvoort for the final time, for now, this year, bringing an end to a highly popular six-race run since the event’s return in 2021. Organisers have repeatedly pointed to rising costs, declining attendance risk and the lack of government subsidies as reasons why continuing beyond that point was no longer viable.

However, Dutch outlet RTL Z reports that the event’s shareholders distributed EUR 20 million from the Dutch GP’s financial reserves in 2024 – a significant portion of its buffer – even as concerns about long-term sustainability were being raised publicly.

Race director Robert van Overdijk previously told NOS that profitability depended on consistently selling out the venue.

“Three sold-out houses in a row are essential for us to remain profitable,” he said. “It’s a fine line. A one-time dip isn’t so bad, but we can’t afford to consistently attract fewer visitors.”

According to financial documents seen by RTL Z, staging the Grand Prix in 2024 cost around EUR 70 million. Despite that, reserves at the end of the year stood at just 3.8 million – after the 20m payout to shareholders.

The Dutch GP organization defended the dividend, insisting the payment was proportionate to the risks involved.

“Regarding the entrepreneurial risk, the dividend payment – which was only paid out for the first time – pales in comparison to the annual costs and risks associated with organizing the Dutch Grand Prix,” a spokesperson said.

The organizers also argued that the 20m covered all editions up to and including 2024, and declined to say whether another dividend was paid for 2025.