Crisis? What Crisis? F1 in denial as many teams will struggle to survive in new era 29 December, 2013 Is much of the money in F1 going down the drain? Glamorous, high-tech and hugely profitable: With the lure of races from Monaco to Singapore, Formula 1 just keeps on giving so far as the money men controlling the motor sport are concerned. The business, in which private equity firm CVC is the largest shareholder, had turnover of $1.35 billion in 2012 and generated an operating profit of $426 million once payments to its 11 teams had been deducted. That might suggest unconstrained happiness up and down the paddock but appearances are deceptive. Behind the luxury brands, the celebrity guests...
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