Tost: 'Every race we don't drive costs us around 2 million euros'

08-04-2020 11:52 | Updated: 08-04-2020 12:01
by Editorial Team
F1 News
Tost: 'Every race we don't drive costs us around 2 million euros'

For the Formula 1 teams it is important to drive, because that brings money. However, thanks to the coronavirus, everything is at a standstill now and that also means an impact on revenues. This is especially a problem for the smaller teams, because their liquid assets are not unlimited. On top of that, of course, various cost items remain. In fact, every race that is not driven costs AlphaTauri no less than two million euros.

Loss of income

That's what the team boss of the Italian team says against It's the costs that are made on one hand, but also the loss of income on the other hand. That all depends on contracts, which of course are drawn up under the condition that the races are driven. The COVID-19 virus, however, hinders that.

"The contracts are set up in such a way that we lose a lot of income if we don't drive. The established amounts will then go down." What can add a little more soot to a seriously delayed season is significantly fewer races. Then the TV channels on which the F1 is broadcast will no longer be obliged to transfer the amounts initially fixed for the rights. This will also decrease based on the number of races that will be held.

Blue eye

The Formula 1 season has no start date yet and many races have been postponed. Nevertheless, the sport keeps up the faith and hopes for a start in June. That does depend on the coronavirus, because that has to be contained first. If the season starts in July, it is still manageable.

Tost says: "If we can race again in July, we will probably get rid of it with a black eye. Isn't that possible? Then it will be difficult. If nothing comes in all year long, it could be a critical situation." With a prolonged lack of income, there is a high risk of teams collapsing, which is why the parties involved frequently consult with each other to prevent this from happening.

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