Bahrain canceled: Financial losses in sight

The cancellation of the Bahrain Grand Prix on Monday, due to security concerns following the clashes which took place in Manama, will give some concern to the financial directors of the companies involved in F1. According to Formula Money, a sort of economic barometer of the Circus, the loss of the GP would represent a shortfall of 100 million dollars, or approximately 72,5 million euros, on the income generated by the event.

The teams are the first concerned because they alone represent 30 million euros. Due to the importance of its sponsors, Ferrari is the big loser with a total of 8 million.

Each year, the sum paid by the Kingdom of Bahrain to host the GP is estimated at 24 million euros. A sum that Bernie Ecclestone yesterday said he did not claim. The airline Gulf Air had paid 4,3 million euros to have its name associated with the event. This amount corresponds to half of the advertising revenue on the circuit, which will therefore not go into the pockets of CVC, the company which holds the majority of F1 rights through the Formula One Administration (FOA).