Formula 1 has put about half its staff on enforced leave while senior figures are to take a salary cut as a result of the coronavirus crisis. The decision follows similar moves by three teams in the past few days. The F1 leadership group have all voluntarily agreed to take at least a 20% pay cut but will not benefit from the government furlough scheme. The rest of the staff will be using the job retention scheme that pays 80% of wages up £2,500 a month. The spread of coronavirus risks causing a significant financial shortfall for F1, with its main revenue streams of race-hosting fees, broadcast rights and sponsorship all under threat. The organisation pays teams prize money out of its...
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