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Formula One was supposed to make its first trek through Italy this weekend — but devastating floods around the town of Imola have halted the Emilia-Romagna Grand Prix.
While F1 potentially could have conducted the race, doing so would have taken away from relief efforts in Northeastern Italy, as per its official statement.
Whether the event is rescheduled or canceled altogether, the move will be costly for F1.
According to Autosport, in the event of a cancellation, race promoters won’t be forced to pay this year’s fee, which is understood to be around $20 million. F1 itself and the 10 teams will share that cost.
ESPN reported that although there’s a desire to run the race later this year, F1 internally considers it highly unfeasible. The promotion’s continued expansion, including a new race in Las Vegas, have led to a jam-packed calendar that was set to include a record 23 grand prix.
Money Matters
This week, McLaren Racing CEO Zak Brown called for Formula 1 to retool its cost-cap structure so teams wouldn’t have to choose between performance and sustainability.
“Current regulations have created some unintended barriers when it comes to investing in sustainability,” Brown said in a statement.
