Horner doesn't worry much about survival F1: "They've got deep pockets"

31-03-2020 19:29
by Editorial Team
F1 News
Horner doesn't worry much about survival F1: They've got deep pockets

Formula 1 has three primary sources of income, the revenues per race on location, the broadcasting rights and the sponsorship deals. This is decreasing now that it is not possible to race due to the coronavirus, and some - especially smaller teams - may be under considerable pressure as a result. Nevertheless, Formula 1 will survive this, says Christian Horner.

All teams...

"Formula 1 is a very strong business and it's got enormous heritage," says the Brit in conversation with the BBC. "Formula 1 will survive this, but whether all teams survive this is another matter. It is the responsibility of all team leaders to act in the interest of the sport. We must do our best to make sure that all ten teams reach the other side".

The financial consequences are already a little noticeable here and there, but it has not had a huge impact in the relatively short period of time. In time, however, this may be different, although it is currently very difficult to predict. "The world is a different place at the moment. Of course, the profits will be hit hard, but we don't know yet how hard it will hit Formula 1".

Responsibility of teams

What makes the impact even more variable is where the teams are located. For example, the outbreak of the COVID-19 virus in Italy is many times larger than in the United Kingdom. In addition, the smaller teams may can take less than the larger teams, but according to Horner it is important that they form a collective in this day and age.

"All teams have responded in a responsible and collective manner. It is clear that some teams are a little more exposed than others, especially the smaller teams, but it is important that we do our best to protect Formula 1 as well as possible".

Liberty Media

Liberty Media has been the owner of Formula 1 since 2017 and of course it hadn't seen this coming. The financial impact for them will also be large, but Horner is not very worried about that party. He concludes by saying: "They have deep pockets and they have always looked at Formula 1 with a long-term vision. I think they are doing everything that is necessary to ensure that this sport continues".

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