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Ferrari estimates F1 losses to be in high tens of millions
Ferrari’s Formula 1-related losses due to the pandemic will hit the company to the tune of tens of millions of dollars, according to CEO Louis C Camilleri. F1 has been working hard to protect teams against the impact of the COVID-19 pandemic that has led to widespread disruption to sporting calendars and so far resulted in no fans being allowed to attend races. Promoters are not paying their usual race hosting fees due to the lack of spectators, meaning that income for the sport's other stakeholders is greatly reduced, and Camilleri said sponsorship has also been hurt.
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