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F1: F1's second quarter finances suffer following Imola cancellation
The cancellation of the Emilia Romagna due to local flooding has impacted the sport's financial results for the second quarter of 2023. The cancellation of the race meant that the second quarter featured only 6 races, whereas last year there were 7 races in the same period. Consequently, revenue for the second quarter was $724m, down on 2022's $744m, along with a 2% drop in primary revenue, which includes race promotion revenue, media rights fees and sponsorship fees, and a further 9% drop in other revenue, streams. Payments to the teams was $344m, down 7% on 2022's $368m, though the over profit was up from $49m in 2022 to $52m. 'Primary F1 revenue decreased in the second quarter with...
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