Cancelling five races means losing ‘$100 million’

Date published: March 23 2020

Red Bull will do "all they can" to facilitate Austrian GP.

Helmut Marko has backed F1’s decision to defer the 2021 rules for a year, saying teams will lose “$100 million” if five races are cancelled.

So far only two, Australia and Monaco, are officially cancelled.

Formula 1, though, has postponed five others in Bahrain, Vietnam, China, Holland and Spain. Baku then joined the list on Monday.

As the teams wait for the 2020 season to get underway, they are taking a massive financial hit.

That led to a meeting last week in which the team bosses, together with Liberty Media and the FIA, agreed to postpone next year’s overhaul of the technical regulations until 2022.

“It makes a lot of sense,” Red Bull advisor told Oe24.

“All teams are facing a loss of revenue. If five races are cancelled, 100 million will be lost.

“Now we have stable regulations.

“If we freeze that, the cost will drop enormously.”

And, as Marko pointed out, it also means the 2022 cars will be designed with all the teams operating under the 175m budget cap.

He added: “The regulation changes will fall below the planned budget cap.”

Red Bull, though, isn’t only in charge of a Formula 1, the company also has a race track.

The Red Bull Ring is scheduled to host the Austrian Grand Prix on 5 July.

However, the uncertainty over the coronavirus means no one is sure whether the race will go ahead.

Marko believes it will.

“It has to go ahead,” he said.

“Our marketing activities should start in mid-May, and we will keep all plans up to date.”

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