Fantasy Island

The Uncertain Future of Formula One

By Jack Webster and Eddie LePine

Formula One is facing an uncertain future, as it is currently shut down due to the Coronavirus Pandemic, as is most professional motorsport across the planet. Races have been canceled or postponed, team’s cash reserves are drying up, paying drivers aren’t paying because they aren’t driving, sponsors are reluctant to provide promised sponsorship money as they themselves are facing an uncertain financial climate, and even auto manufacturers are facing huge losses in their core business – let alone finding the funds for Formula One. Then throw into the mix the astronomical budgets that are currently the norm in Grand Prix racing along with the lack of competition throughout the grid and you have a recipe for disaster. On top of that, like it or not, electric cars are the motorsport of the future and the FIA Formula e series has an exclusive with the FIA for formula car racing with electric cars. That’s right, an exclusive.