Formula 1 is the wealthiest sport on earth, yet the cities that host it often end up in debt. Why?
Because the “F1 Dream” is actually a sophisticated financial trap. While Liberty Media extracts billions in “Sanctioning Fees,” local taxpayers are forced to cover massive infrastructure costs for an economic boom that never arrives.
From the abandoned tracks of Korea to the small business crisis in Las Vegas, we track the money to reveal the dark economics behind the grid. Why do mayors keep signing these contracts if the math doesn’t add up? And who is really paying for the champagne?
You must log in or # to comment.
Isn’t that sort of typical of many major sports? Football, the Olympics, etc. Heck, we taxpayers over here bought and built a stadium for a team of another city. Got dick-all in naming rights too. Go Santa Clara 49ers! Haha!
Yes. I’m trying to expand this nolympics comm to include all that stuff.
Montreal has lost billions hosting F1.
The F1 weekend in Montreal is also the peak time of sex trafficking as thousands of prostitutes are shipped into the city like cattle.Everybody stop watching F1 already, FormulaE is way better
