News Details
F1 organisation furloughs staff - Carey takes pay cut
The Formula One Group has reportedly placed half of its 500 employees on leave in face of the coronavirus crisis, while chief executive Chase Carey has taken a 20 percent pay cut. The global pandemic has disrupted lives and economies around the world, with Formula 1 not immune to the crisis. Brought to a standstill, the sport has seen its three revenue streams - race fees, television rights and sponsorship fees - potentially reduced to ashes for 2021 while FOM's overhead and running costs, estimated at $381m last year, remain. Williams puts employees on temporary leave amid COVID-19 crisis F1 also has yet to disburse to the teams part of their earnings from last year which are paid out on...
Full Story »
Full Story »
You May Also Be Interested In...
Williams furloughs staff as management and drivers...
Williams has confirmed that it has furloughed 'some' of its staff,...
5y ago from MotorsportWeek.com
Carey takes pay cut, F1 staff ‘disguntled'
Formula 1 chief Chase Carey is taking a '20 per cent' pay cut but that...
5y ago from PlanetF1.com
Sainz, Norris take pay cuts as McLaren furloughs staff
McLaren Formula 1 drivers Carlos Sainz and Lando Norris have both agreed...
5y ago from MotorsportWeek.com
Carey takes pay cut as F1 puts over 200 on furlough
Formula One chief executive Chase Carey is to take a significant but...
5y ago from SkySports.com
Elsewhere On The Network
Popular On MGPToday.com
Toprak Razgatlioglu reveals ‘biggest difference’...
Toprak Razgatlioglu has revealed how “different” MotoGP is to...
2h ago from MotorsportWeek.c...
Supersub Pol Espargaro deserves to be full-time MotoGP...
No description available...
1d ago from Motorsport.com
Honda reveals how Ai Ogura snub pushed Diogo Moreira...
Honda was forced to change its “original plan” to sign Diogo Moreira...
1d ago from MotorsportWeek.c...
Jack Miller: Yamaha M1 shouldn’t suit my riding...
No description available...
2d ago from Motorsport.com
Popular On IndyCarToday.com
IndyCar looking to add ‘more events, not just...
IndyCar has identified a need to make sure future races on the calendar...
4d ago from MotorsportWeek.c...
JHR retains Sting Ray Robb for second season
Juncos Hollinger Racing has confirmed that Sting Ray Robb will remain...
1w ago from MotorsportWeek.c...
Sting Ray Robb to continue with Juncos Racing for 2026...
No description available...
1w ago from Motorsport.com
Popular On TotalWRC.com
What Adrien Fourmaux and Oliver Solberg learned from...
No description available...
30m ago from Motorsport.com
Hayden Paddon, Esapekka Lappi and Dani Sordo join...
No description available...
5d ago from Motorsport.com
Oliver Solberg steps up WRC 2026 preparations with...
No description available...
5d ago from Motorsport.com
Hyundai World Rally Team reverts to shared third car...
Hyundai Motorsport has announced its full line-up for the 2026 FIA World...
5d ago from MotorsportWeek.c...
Popular On GunnersToday.com
Insider reports Man United plan to sign Arsenal star...
A major transfer storm could be brewing in English football, with...
20m ago from CaughtOffside.com
'A dangerous circle' | Arteta concerned by mounting...
Arsenal boss Mikel Arteta is concerned about the number of injuries his...
2h ago from SkySports.com
'They’re making hard work of it' - Rio Ferdinand...
Manchester United legend Rio Ferdinand believes Arsenal will win the...
4h ago from SportsKeeda.com
Gunners looking to bounce back in Bruges
Morning everyone. We're in Champions League action this evening, taking on...
5h ago from Arseblog.com
Comments
Hottest News
Behind the spin: Why Helmut Marko is really out at Red Bull
Red Bull has confirmed that Helmut Marko, the... Read More »
1h ago from F1i.com
Red Bull confirm Gianpiero Lambiase role for 2026
Red Bull have confirmed that Max Verstappen's F1... Read More »
3h ago from GPFans.com
Hamilton-style engineer dossiers ‘useless' –...
Dec.10 Maurizio Arrivabene has taken a swipe at... Read More »
6h ago from OneStopStrategy.com
