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Formula 1 has 'advanced money' to certain teams - Maffei
Liberty Media CEO Greg Maffei says that Formula 1 has extended cash advances to several teams to help them deal with the sport's current economic downturn. Formula 1's disrupted season, a direct effect of the global coronavirus pandemic, has put significant financial stress on several outfits which are facing the prospect of a massive collapse in revenue in 2021. Teams rely on sponsorship revenue and income from FOM's prize fund, but both sources threaten to run dry depending on the number of races that shall take place this year. Liberty boss admits closed door events pose 'economic' challenge to F1 "We're not encouraging using our cash in an unwise fashion, but we're trying to...
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