Reports indicate two major sponsors are about to leave F1 by the end of the current season.
The Mercedes F1 team is about to lose one of its sponsors. Mercedes has suspended its deal with cryptocurrency exchange FTX – one of its major sponsors. The company has reportedly filed for bankruptcy.
The bankruptcy was filed hours after Mercedes announced the suspension of the deal.
Moreover, it is also reported that Emirates is also planning to move out from the sport following the organization’s failure to come to terms with the owners of F1 Liberty Media.
Qatar airlines are rumored to be coming in at their place.
Nevertheless, F1 CEO Stefano Domenicali has also indicated that the return of the Chinese GP may be postponed from 2023.
The COVID situation in the country has raised some eyebrows about whether the Chinese GP will make its return or not. Now, The CEO has provided an update:
“Although the covid situation in China remains an issue and it is not certain we will race there in 2023, but we continue to monitor the situation and will keep everyone updated,”
he said.
Domenicali has indicated that the race can be replaced however there are no such plans for now:
“With 24 races, we are approaching the limit,”
he told Le Journal de Montreal.
“But you can never say it’s over.
“Today, we are there because our success is incredible. But if we have to find a balance, I think that’s fine.
“There are many other countries that would like to host a grand prix. We could sign with seven or eight countries tomorrow morning, but of course we can’t do it.”
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