Alfa boss Vasseur predicting 'difficult times' ahead
Alfa Romeo boss Frédéric Vasseur is predicting difficult times ahead, with a before and after COVID-19 that could leave motorsport a long way down the world's list of priorities.
This week, Formula 1, the FIA and the teams acted decidedly in the face of the ongoing disruption caused by the global coronavirus pandemic.
From race cancellations or postponements to the decision to delay the introduction of F1's 2021 regulations, the sport has adopted a series of measures which Vasseur considers as "essential", but also costly.
"Between an inevitable reduction of our FOM income and the difficulties our sponsors will be facing in the coming months, we're looking at a 15 to 20 per cent hit to our revenue while costs will be going up," said Vasseur in an interview with Auto-Hebdo.
As F1 attempts to rebuild its calendar, triple-header weekends this summer could become the norm. norm. But it will be a pricey one insists Vasseur.
"Multiplying the triple-headers will require hiring more personnel to handle the burden of the extra races, and we'll also be forced to produce extra components - wings, flat bottoms, etc - that we may not use but that we'll need to have just in case.
"Thursday's meeting was anything but easygoing as several teams' worries needed to be addressed, but in the end, common sense prevailed. The idea is to freeze the chassis, engine and other yet-to-be-defined elements. It wasn't necessary to list everything at the meeting.
"It was however important to maintain the introduction of next year's budget cap. This will allow for a somewhat soft landing once the pandemic recedes and prevent the big teams from spending lavishly on their 2022 car."
The coronavirus pandemic is undoubtedly world-shattering event with far-reaching consequences that one can only scarcely imagine at this stage.
As the COVID-19 disease wreaks havoc on lives and shatters markets and economies, where the world will be standing once the dust settles is anybody's guess, and Vasseur is worried. For F1 and for the world.
"To rebuild a calendar, you need races," said Vasseur. "When the pandemic subsides, we'll be in a crisis and I'm afraid Monaco won't be the only race to be cancelled.
"That’s a second effect that F1 under-estimated and is only starting to realise.
"In my thirty-year career, I've dealt with the consequences of the Gulf War in 1990, 9-11 in 2001, SARS in 2003 and the sub-prime crisis in 2008.
"But now, from China to America to Europe, everyone and all sectors are hit. Regarding confinement, only the past generation experienced it during the second world war.
"The times ahead will be difficult," added the concerned Frenchman.
"There will be a before and after COVID-19 in terms of priorities moving forward. And I'm unsure motor sport will be among the world's priorities."
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