Formula 1 CEO Chase Carey insists a long-term strategy is being put in place, despite a number of short-term hurdles coming up this year.
The fallout from Brexit and the potential loss of five key races are threatening to damage what is already a loss-making balance sheet with F1 business reporter Christian Sylt suggesting $130m of race contracts could be lost.
As it is, Brexit is the most immediate, potentially coming into effect at the end of this month and with seven of the 10 teams based in Britain ensuring movement of goods is essential.
“We do not know what will happen any more than anyone else does,” Carey was quoted by GPFans.com on the UK’s exit from the EU at the Geneva motor show.
“We are making contingency plans for trying to make sure we are prepared to deal with the issues that could possibly arise that would make getting people and things in and out of the UK more difficult.
“We obviously can bring them in and out of somewhere else,” he suggested.
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As for the future F1 calendar, the American executive has previously played down the situation too, maintaining the sport is heading in the right direction.
“We had the feeling that it was a sport that historically had a short-term goal. We wanted to build a base on which we could grow,” Carey claimed. “[And we are] laying the foundation for long-term growth.
“F1 has created new momentum and is the fastest growing major sport on social media for the past two years. We are very excited about what’s ahead in 2019 and 2020.”
