Renault and AlphaTauri get advance from Liberty Media, Williams not yet

11-05-2020 15:33
by Editorial Team
F1 News
Renault and AlphaTauri get advance from Liberty Media, Williams not yet

Because there is no racing, the Formula 1 teams currently receive no income from TV. Because the teams depend on it, this can't go well for long. And so half of the F1 field already receives an advance from Liberty Media.

In the first quarter of 2020 Liberty Media has not paid out anything to the teams and since there will be no Grands Prix in the second quarter either, the commercial owner of Formula 1 has already given an advance to a number of teams to fill the financial gaps.

According to Auto Motor und Sport, a leak has revealed that this concerns Haas, Alfa Romeo, Racing Point, AlphaTauri and Renault. These last two teams are particularly noteworthy, because until recently they were not seen as the first teams at risk. That's normally Williams. The fact that they are not mentioned now, is interesting.

Liberty runs a loss, but has money on hand

Liberty Media itself also leads losses in the meantime. In the first quarter of 2020 it generated only 20% of sales compared to the first quarter of 2019, when the company was already making losses.

Fortunately, Liberty is not yet in immediate financial distress. It is said to have about 2.5 billion dollars in cash. Nevertheless, they now offer shareholders an extra investment of 750 million, in order to repay the loan (the advance) to Formula 1.

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