FORMULA ONE NEEDS CHANGES FOR ITS SURVIVAL

FRAGILE STATE OF FORMULA 1 DUE TO THE COVID-19 SPREAD.
McLAREN BOSS ZAK BROWN STATEMENT FOR THE SURVIVAL OF F1.
CANCELLATION OF RACES AND THE SUDDEN DROP IN THE EXPENSES.
April 06,2020: ZAK BROWN says in his interaction that “this is destruction and damage to the company enough as more than two teams and gives a greater loss to the formula 1 and respected company due to of this pandemic”. The cost saving strategies will be discussed in a meeting when the directors and finance department of the companies sit on one table.
The teams are divided on the bases of their tasks and directed them to do their task accordingly. F1 race is being banned due the outbreak of corona virus. This had let the formula 1 into the greater loss and their revenues and plans are also being cancelled accordingly. The F1 is in a very fragile state and going down and down.
ZAK BROWN says in his recent interview which he gave to BBC that he believes that $175m budget cap that scheduled will come into force in 2021 which may increase its economy and budget. Covid-19 is the major reason of decline in the financial and economical issues of the country and the cancellation of formula racing cause a greater loss in economy.
It is estimated that the race has been delayed to 2020 due to the current pandemic and related circumstances which are quite low. This is also scheduled to send a force into 2021 and it is planned that the same cars have driven this year and the next year. The sports face a visible drop in lowering costs and revenues as a result of cancellation of different events.
Brown also says that “everyone has come under the budget of $150 and the strong majority are including in one of the largest teams. And they are willing to come substantially under $150”. Brown do not names teams but BBC has given this lower cap teams under FERRARI, MERCEDES or RED BULL.
Last week, McLAREN has made different teams for the further working in response to the lack of racing. Brown said that it was the toughest decision he had ever made but he was left with no choice though this is one of the largest teams in top three. He also said “we are the well funded racing team”