Motorsport cannot look to the past for its future direction
The economic impact of the COVID-19 pandemic is only just starting, and many people are searching for answers. But it is crucial that leaders avoid becoming fixated on history and keep an open mind to the future
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These are hard times for the global economy. We have at least two Formula 1 teams looking for financing in Williams and McLaren, and we have all the manufacturers posting a very difficult year in terms of sales and cash flow. Renault has borrowed €5bn from the French government and announced that it will cut 15,000 jobs. Mercedes shares have fallen more than 20% in the year-to-date.
And that's on top of the existing problem that motorsport involves a high cost, often without generating the equivalent return for Research and Development and advertising.
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