F1 Team Boss Highlights the Huge Financial Losses to Teams Due to Cancellation of Races
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Alpha Tauri boss Franz Tost claims the small F1 groups are losing millions consistently they don’t race.
The 2020 World Championship nearly got looking bogus so far a month ago, however, rather didn’t get off to any beginning at all.
The groups wandered down to Melbourne for the Australian GP just for the race to be dropped two hours before FP1 started after McLaren pulled back when an employee tested positive.
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Not long after venues started deferring their Grand Prix individually.
That rundown is presently up to seven deferred, with Canada the most recent, and two dropped in Australia and Monaco.
The game’s supervisors are hoping to get the title in progress in July with boss Ross Brawn saying they may do without spectators.
F1 team boss says they are losing $2mn per race
Alpha Tauri F1 boss says it is indispensable to the groups that they get racing at the earliest opportunity.
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“If we start competing in July, we will come out with a black eye,” he says to motorsport-total.com.
“If we don’t start, it will be very critical.
He further adds that teams end up losing up to $2 million if they don’t race on any weekend.
“When we don’t contest a Grand Prix, it costs us $1.5 million to $2 million.
“If nothing happens throughout the year, it will be a very critical matter.
“If you have no income, it is obviously an economic disaster.”
Haas F1 team principal Gunther Steiner says: “If we don’t have a world championship, it will be difficult for many teams to survive.”
“I believe that problems always have to be tackled positively,” said Steiner. “A problem also creates new opportunities.
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“If we all work together, pull all ten teams together, we may even get out of this situation better. For the sport and for everyone.”
Tost clarified that the groups are losing sponsorship cash as well as be enduring a shot with regards to the prize cash conveyed toward the finish of the season.
Tost agrees: “We need to wait and see which races we have, what income we have and how it looks with the sponsors. Do they stay, do they disappear? What does the whole economic situation look like?
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“Only Liberty Media can give us a starting point. They are responsible for the money from sponsors, from television rights, from organizers, which they then distribute to us.”
The teams and the fans have only one option, that is to wait and watch for what happens in the future
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