Red Bull team principal Christian Horner says that F1 will survive the economic aftershocks from coronavirus but is concerned the same fate may not be shared with every team.
Since the eleventh-hour annulment of the Australian Grand Prix last month, F1 has acknowledged the financial pressures the covid-19 pandemic will bring about for teams and management.
F1 has already decided to delay the introduction of the 2021 technical regulations until 2022, allowing teams to continue to use their current cars for next season and minimise costs associated with development.
Speaking with BBC Sport, Horner insisted that the sport is in a financially stable position to survive the current economic crisis. However, the 46-year-old admitted that some of the teams, especially the privateer outfits, may struggle to bounce back once the pandemic abates.
“F1 is a very strong business and it’s got enormous heritage, F1 will survive this,” said Horner.
“Whether all the teams survive this is another matter, and it is the responsibility of all the team principals to act with the interests of the sport and all its participants [in mind], to do our best to ensure all 10 teams come out the other side.
“All the teams have been reacting responsibly and collectively. Obviously some teams are more exposed than others, particularly the small ones, and it’s important that we try our best to protect the F1 community as best we can.”
But Horner did go on to say that the current economic situation cannot be compared to the 2008 Automotive industry crisis which saw Honda withdraw from the sport entirely.
“The difference in 2008 was we were still racing, there was still a calendar, there were still events. You could see the issue more clearly, whereas here we are more blind. When will we start racing again? It’s a different scenario.”
Horner also said that the debt owned by Liberty Media who took control of the sport back in 2017 is not of major concern.
“To be honest, the Liberty structure is quite complicated and you can only imagine that Live Nation, the owner, is also taking a hit on the events business. But they have deep pockets as well. And they have always taken a long-term view on this. I think they will do whatever is needed to ensure the sport continues.”
The 2020 Formula One season is currently set to resume on June 14 with the Canadian Grand Prix.
