F1 Faces Financial Fallout as Bahrain and Saudi GP Cancellations Bite
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The Formula 1 calendar has been dealt a significant blow with the cancellation of the Bahrain and Saudi Arabian Grand Prixes due to the ongoing crisis in West Asia.
The races, scheduled for April 12 and 19, are unlikely to be rescheduled, leaving a packed F1 calendar with a gaping hole.
According to the BBC, the cancellation will result in a commercial hit of over 100 million pounds, with Bahrain and Saudi Arabia set to lose hosting fees.
The F1 teams, who take a significant share of the profits as prize money, are also expected to suffer a significant financial impact.
Haas boss Ayao Komatsu had earlier stated that the financial impact of the cancellation has not been fully figured out yet, but it's clear that it won't be negligible.
The cancellation also means there will be 33 days without racing between the Japanese Grand Prix and the Miami GP, with just one race in seven weeks.
The organisers have confirmed that no replacements will be sought for Bahrain and Saudi Arabia, giving teams a chance to regroup and consider tweaks to the new rules.
