Bernie Ecclestone admits Formula 1 may cease to exist amidst coronavirus devastation

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Formula 1 could very well cease to exist says former boss Bernie Ecclestone, as the coronavirus continues to disrupt sport across the globe.

In what has been an unprecedented week of national ‘lockdown’, ordered by British PM Boris Johnson, we are seemingly no further forward as cases continue to serge.

All sport, as everyone is well aware, has been put on hold for what appears to be the foreseeable and F1 is no exception, with several races already cancelled and/or postponed.

Racing is being delayed currently and there appears to be no resumption date in sight; this of course means for massive financial losses.

Revenue streams have all but dried up, not just in F1, but across all sports. F1 generate revenue through race hosting fees, broadcasting rights and sponsorship deals; with no date to resume proceedings, Ecclestone fears the worst.

In an interview with the Daily Mail, Ecclestone spoke on the matter: "Let's look at a good side and it takes six months to tidy up this pandemic and there is no longer a problem, it is still not easy for Formula One to put on races.

"It's not like sowing a seed.

"There are an awful lot of things you have to do.

"You have to get the promoters to take a risk on staging events not knowing if they are going to get the public in or not.

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"You can't stage a race if it's -10C.

"And people usually plan what they are going to do; they don't just wake one day and say let's go to Silverstone or wherever else.

"And even if all that is sorted, you then need participants.

"And the next question is: are they alive and well to perform? And that is another thing again.

"Even a smaller team like Williams, they have staff to pay and bills to pay, and it's not easy for them if they are not getting their revenue from racing."

Smaller racing teams in the sport are predicted to be among the worst affected by the pandemic; serious questions are now being asked about their financial survival.

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