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,...
4y 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...
4y 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...
4y 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...
4y ago from SkySports.com
Elsewhere On The Network
Popular On MGPToday.com
Jorge Martin vs Francesco Bagnaia: MotoGP title...
The 2024 season finale awaits as Jorge Martin holds a 24-point lead over...
8h ago from MotorsportWeek.c...
Marquez feared his "time was over" in final...
No description available...
8h ago from Motorsport.com
How Martin can clinch the 2024 MotoGP title in the...
No description available...
9h ago from Motorsport.com
2024 MotoGP Barcelona Grand Prix – How to watch,...
No description available...
15h ago from Motorsport.com
Popular On IndyCarToday.com
AJ Foyt technical director Michael Cannon leaves team
Michael Cannon, AJ Foyt Racing’s revered engineer and technical...
1d ago from MotorsportWeek.c...
The testing parity problems plaguing the most...
No description available...
1d ago from Motorsport.com
Chip Ganassi Racing announces driver development...
Chip Ganassi Racing has launched a new driver development program, which...
5d ago from MotorsportWeek.c...
Shwartzman makes IndyCar switch with Prema for 2025
No description available...
1w ago from Motorsport.com
Popular On TotalWRC.com
Hyundai's 2025 WRC car will feature "reasonable...
No description available...
2d ago from Motorsport.com
What Lancia needs to do to transform its rally return...
No description available...
1w ago from Motorsport.com
Popular On GunnersToday.com
Arsenal looking to tie down key player to new...
No description available...
1h ago from SportsKeeda.com
Arsenal star Gabriel Martinelli names Manchester...
No description available...
2h ago from SportsKeeda.com
Manchester United and Liverpool among clubs seeking...
No description available...
2h ago from SportsKeeda.com
Liverpool, Arne Slot Premier League favourites: Title...
Sports Mole examines the Premier League title race after Liverpool took a...
1h ago from SportsMole.co.uk
Comments
Hottest News
F1 aiming for rookie race in 2026, changes to starting grid...
The latest meeting of the Formula 1 Commission... Read More »
1h ago from MotorsportWeek.com
Aston Martin's wretched 2024 season made Dan Fallows' F1...
Aston Martin has announced that Dan Fallows will... Read More »
3h ago from MotorsportWeek.com
Head of F1 owner to leave role at key time for sport
President and chief executive officer of Formula... Read More »
1h ago from BBC.co.uk
