News Details
As revenues fall, Liberty offers teams interest-free advances
As previously reported, in the nine months to September, the prize money paid to the F1 teams fell by £31m with the prediction that the trend would continue for some time yet. There are various reasons for this, including the reduction in the number of races this year compared to 2016, however, new owners Liberty Media's failure to secure new sponsors combined with its spending on new offices, staff, promotions such as the London event, investment in the sport’s infrastructure and Ross Brawn's technical team have all had an impact. Rapidly becoming Liberty Media's 'teacher's pet', Red Bull's Christian Horner accepts the downturn in prize money - his team can afford it -...
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8y ago from Pitpass.com
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