[forzaferrari]

Coronavirus: F1 owner braces for £33m hit over Shanghai Grand Prix.

Formula One has revealed that it risks losing its estimated $33m hosting fee for the Chinese Grand Prix if the authorities in Shanghai give the red light to the race over the coronavirus outbreak.
The Chinese Grand Prix was due to take place in Shanghai in April but was postponed by F1 last week at the request of local event organiser, Juss Sports Group. Nasdaq-listed F1 said it is liaising with Juss and the authorities in China to try and reschedule the race.

However, it is widely believed that this will not be achievable due to F1’s tightly-packed schedule which sees it visiting more than 20 countries in eight months.