BERNIE ECCLESTONE has admitted F1 could end completely as the coronavirus pandemic continues to disrupt the season.
The F1 boss, who is currently on lockdown at his coffee farm in Brazil, is seriously concerned about the potential damage the lockdown is having on the sport and admits there is a possibility the sport could cease completely.
The Australian Grand Prix was cancelled last minute due to the coronavirus outbreak.Credit: EPA
With racing being delayed, and no resumption date in sight, the three big revenue streams are under serious threat.
Race hosting fees, broadcasting rights and sponsorship are the main money generators and with no date for the sport to resume, Ecclestone is extremely concerned for the future.
Ecclestone told the Daily Mail: “Let’s look at a good side and it takes six months to tidy up this pandemic and there is no longer a problem, it is still not easy for Formula One to put on races.
“It’s not like sowing a seed.
“There are an awful lot of things you have to do.
“You have to get the promoters to take a risk on staging events not knowing if they are going to get the public in or not.
⚠️ Read our coronavirus live blog for the latest news & updates
“You can’t stage a race if it’s -10C.
“And people usually plan what they are going to do; they don’t just wake one day and say let’s go to Silverstone or wherever else.
“And even if all that is sorted, you then need participants.
“And the next question is: are they alive and well to perform? And that is another thing again.
“Even a smaller team like Williams, they have staff to pay and bills to pay, and it’s not easy for them if they are not getting their revenue from racing.”
The delay is hitting the smaller teams hard and they are set to face some serious questions about their survival if the sport continues to be on hold.
CORONAVIRUS CRISIS – BE IN THE KNOW
Get the latest coronavirus news, facts and figures from around the world – plus essential advice for you and your family.
To receive our Covid-19 newsletter in your inbox every tea time, sign up here.
To follow us on Facebook, simply ‘Like’ our Coronavirus page.
Although they face major issues, they still receive their cut of the £720million prize fund from last season.
Jobs are expected to be lost as teams face a budget cap of £150m next season, a figure which could be cut even further.
Chase Carey, the sport’s chief executive who took over from Ecclestone when Liberty Media bought the sport for £6bn in January 2017, has said he wants to stage between 15 and 18 races later in the year.
F1 drivers take on top gamers in virtual Australian Grand Prix watched by millions after race axe
Source: Motorsport - thesun.co.uk
