The Covid-19 might be the reason to exit some teams from the championship in the 2020 F1 season (in its 70th season) as this new financial crisis could develop in the near future to the worst. The question here is will the all 10 teams are still in a position to compete?
Two teams are highly affected to leave the championship when the unexpected coronavirus pandemic delayed the start of the Formula 1 season, the Swiss outfit Alfa Romeo and the American outfit Haas, and we might see no car hit the track until June.
However, Alfa Romeo boss Frederic Vasseur believes that the coronavirus pandemic is a global crisis and hit the sports industry so hard. He also admitted that it is the biggest crisis that Formula 1 has ever experienced since 1950. As we can see, the first eight races have been in between postponement and cancelation, with the possibility of more dropping out.
Basically F1 is in a serious financial challenge where they have to ensure all teams to be on board. Each team has to pay its staff and bills. We can say that teams have already lost potential revenue from the postponement of the China race and whenever we see another postponement in the calendar the more teams face more losses from losing events on time.
Earlier, Racing Point team boss Otmar Szafnauer thinks "that the pot from which it [prize revenue] is distributed will turn out smaller,"
Vasseur explains to Canal+: “We don’t get TV money and without a solution, we get into trouble.
“We are all in the same boat, so we have to come to a solution together.”
Vasseur also said that although teams are facing a financial hit, the focus at the moment should not be getting back racing again.
He added: “All the suffering that the virus has already caused, that is intense at the moment.
On the other side, Kevin Magnussen can put us in the frame when he can imagine that Gene Haas is about to pull out his team from Formula 1.
However, the Danish driver said he's not worried about Haas pulling out of F1 and potentially ending his career.