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Formula 1 reveals $136m loss for Q2 2020
Formula 1 has suffered a 96% drop in Q2 revenue for 2020, the sport's owners Liberty Media revealed on Monday. Unable to race due to the COVID-19 pandemic, F1 owners Liberty Media revealed in their quarterly report the extent of the damage done, with Q2 2019 revenue of $620 million dropping to just $24 million for the April-June period this year. As a result, its profits year-on-year for that period dropped from $14m in 2019 to -$136m in 2020. Fortunately for both Liberty and F1's assorted stakeholders, racing has been able to get underway since, with five races already concluded and at least eight more to come. However, as has been indicated elsewhere, F1 teams were hard-hit during the...
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3y ago from GrandPrix247.com
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