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F1 revenue loss hitting Ferrari in the “harshest manner”
Ferrari CEO Louis Camilleri says Formula 1’s “drastic” loss of revenue amid the coronavirus crisis is hurting its finances in “the harshest manner”. The company reported a 30% decrease in income throughout the first quarter of 2020, which has been largely affected by a hiatus to racing due to the ongoing COVID-19 pandemic. The 2020 F1 season is currently on hold with the opening 10 races either postponed or cancelled. Championship officials still hope to stage up to 18 events and are targeting getting the campaign off the ground with a series of behind closed doors races beginning with the Austrian Grand Prix on July 5. And the suspension to racing has hit Ferrari’s finances...
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