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F1 posts $877m revenue drop for 2020, team payments slashed
Formula 1 owners Liberty Media have revealed the severity of 2020 by announcing an $877million drop in revenue for last year. The Formula 1 Group business was heavily impacted by the Covid-19 pandemic which led to the cancellation or postponement of the first 10 grands prix. Article continues under video The season finally managed to get going in early July, and F1 managed to produce a 17-race calendar across 24 weekends over the second half of the year. But the overwhelming majority of those races were behind closed doors, while those that were able to welcome spectators did so on a limited basis. It has resulted in Liberty Media posting a stark set of figures that includes the revenue...
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