Formula 1 suffered a $90 million hit to its share price this week as news emerged that Ferrari and Sebastian Vettel were to part ways, reports suggest. The four-time champion called it quits with the Scuderia this week after failing to agree a new contract beyond the 2020 season. Article continues under video As reported by Formula Money, a specialist in the business of Formula 1, the share price plummeted by 4.5%. This was counteracted by a lesser 3.1% rise following the announcement that Carlos Sainz would be filling the vacancy. However, this still equated to a net $90 million loss, at a time when the sport has already taken damage due to the pandemic. We Tweeted yesterday that #F1...
Full Story »