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Portimao paying 'much lower' price for F1 race

Oct.15 Portimao is paying a "much lower" price for joining the Formula 1 calendar in 2020. The Portuguese circuit, set to host its first ever grand prix next weekend, is one of several venues drafted in this year to fill the calendar gaps amid the corona crisis. "Each race in Europe costs EUR 30-50 million, but our numbers, which are under contract and not public, are much lower," said Paulo Pinheiro, the race promoter. Liberty Media is picking up the tab this year to keep the sport's wheels turning, but F1 CEO Chase Carey insists next year's race schedule will hopefully be "closer to normal". However, Pinheiro is still confident the Portuguese circuit can...
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