The devastating effects of the Covid-19 pandemic were felt on Thursday in the accounts of Liberty Media, which recognized an 84% drop in its income compared to 2019. Chase Carey, head of the company that owns Formula 1, spoke also of the "remote possibility" that the 2020 World Cup will not finally take place.
During a video conference, Carey detailed the figures for the first quarter of the year, where revenues barely reached 36 million euros, 227 less than those collected between January and March 2019. The late cancellation of the Australian GP and the postponement of the Bahrain GP completely misplaced initial calculations.
Likewise, Carey admitted for the first time in public that the worst case scenario is included in his company's plans. "We are confident, although we do not have the guarantee, that the championship can be held," said the US executive.
Imola and Portimao
For now, Liberty's immediate goals are, according to Carey, "to identify where we can organize the races and determine how we can transport the necessary personnel and equipment there." Two challenges to arrive on time to July 5 and 12, scheduled dates for the two races of the Austrian GP.
However, the difficulties in ensuring the health of the hundreds of workers who travel with the Grand Circus, together with the problems of ensuring economic viability for the organizers, force putting on the table options that until now were considered unheard of.
"We are in talks with all the promoters, as well as with some circuits that are not currently on the schedule scheduled for 2020," Carey said, without citing the circuits in Imola (Italy) or Portimao (Portugal), which could be resources of urgency for the immediate future.
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