F1 Racing - UK (2020-07)

GP RACING JULY 2020 19

02 03

virtually by 243 member clubs. FIA president Jean Todt

urged members to sign up to apledge which included

commitments to“commit to fight systemicracismand

prejudice”and to “proactively en courage, attract and

employa wider andmore diverserang e of participants in

motorsport and its broader ecosystems”.

F1 announced itsown initiative insupport of thewider

#Purp oseDrivenmovement, a campaignthat seeks to

emphasise the unifyingeffec t of the global fight against

COVID-19, andto com bat inequality.

“The whole worldhas come together as one collective

communityin the fight against COVID-19,” F1 said ina

statement. “Andit has brought out the bestin human

nature.In r ecent weeks people from all walks of life have

united in their condemnation of racism and inequality,

something thathas no place in ourmode rn world.

As a memberof the global FIA motor sport family,

we acknowledgeits Fundamental PrinciplesStat utes,

includingthe fight against anyform of discr imination.

“It will not be aoneweek or on e-year theme that

disappears as is sues disappear from headlines,it will

underpin the F1stra tegy to makea tangibl e difference in

our sport and society.”

F1’s ‘#WeRaceAsOne’ campaign features a rainbow logo

incorporatingthe colours of theF1 teams – whowill co-

ordinate with F1 ona range of merchandise to raise funds

for charity. The slogan “RacismMust End” will feature on

trackside signageduringthe season-opening Austrian GP.

“Our first race in Austriais a big moment for our sport

after nearly four months of no racing,” said F1 CEO

Chase Carey.“While it is animportantmoment for the F

community it isalso a time to recognisethe issues that are

bigger than any onesport or country.”

WHO WILL BUYFORMULA 1’S

FALLEN GREATS?

POWER BEHIND MERC

POWERTRAINTOGO

WilliamsandMcLaren– the second and thir d

most successful Formula 1 teams of all time in terms

of championships won –face a fight for survival asthe

economic effects of the COVID-19 pandemic exacerbate

financial vulnerabilities which have been troubling both

organisations for sometime. Both have struggled for

competitiveness in recentseasons, leading to a reduction

in their share of F1’s revenues, whichare determined by

constructors’ championship positions.

Although McLaren hasundergone a competitive

renaissance, its wider business has encounteredcashflow

problemsas a result of the pandemic. Its ability to raise

new funds has been constrained by aprevious bond issue

WILLIAMS FOR

SALE;McLAREN

HEADS TOCOURT

02

“WINNING

CHAMPIONSHIPS

IS GREAT, BUT

I WANT TO BE

REMEMBERED

FOR MYWORK

CREATINGA

MORE EQUAL

SOCIETY THROUGH

EDUCATION”

LEWIS HAMILTON

PICTURE

:OLLIEMILLINGTON/RMV/SHUTTERSTOCK

Just hoursafter announcing

his commission, Hamilton

attended apeacefulBlack

Lives Matterprotest march

inLondon on 21 June

GP RACING JULY 2020 19

02 03

virtually by 243 member clubs. FIA president Jean Todt

urged members to sign up to apledge which included

commitments to“commit to fight systemicracismand

prejudice”and to “proactively en courage, attract and

employa wider andmore diverserang e of participants in

motorsport and its broader ecosystems”.

F1 announced itsown initiative insupport of thewider

#Purp oseDrivenmovement, a campaignthat seeks to

emphasise the unifyingeffec t of the global fight against

COVID-19, andto com bat inequality.

“The whole worldhas come together as one collective

communityin the fight against COVID-19,” F1 said ina

statement. “Andit has brought out the bestin human

nature.In r ecent weeks people from all walks of life have

united in their condemnation of racism and inequality,

something thathas no place in ourmode rn world.

As a memberof the global FIA motor sport family,

we acknowledgeits Fundamental PrinciplesStat utes,

includingthe fight against anyform of discr imination.

“It will not be aoneweek or on e-year theme that

disappears as is sues disappear from headlines,it will

underpin the F1stra tegy to makea tangibl e difference in

our sport and society.”

F1’s ‘#WeRaceAsOne’ campaign features a rainbow logo

incorporatingthe colours of theF1 teams – whowill co-

ordinate with F1 ona range of merchandise to raise funds

for charity. The slogan “RacismMust End” will feature on

trackside signageduringthe season-opening Austrian GP.

“Our first race in Austriais a big moment for our sport

after nearly four months of no racing,” said F1 CEO

Chase Carey.“While it is animportantmoment for the F

community it isalso a time to recognisethe issues that are

bigger than any onesport or country.”

WHO WILL BUYFORMULA1’S

FALLEN GREATS?

POWER BEHIND MERC

POWERTRAINTOGO

WilliamsandMcLaren– the second and thir d

most successful Formula 1 teams of all time in terms

of championships won –face a fight for survival asthe

economic effects of the COVID-19 pandemic exacerbate

financial vulnerabilities which have been troubling both

organisations for sometime. Both have struggled for

competitiveness in recentseasons, leading to a reduction

in their share of F1’s revenues, whichare determined by

constructors’ championship positions.

Although McLaren hasundergone a competitive

renaissance, its wider business has encounteredcashflow

problemsas a result of the pandemic. Its ability to raise

new funds has been constrained by aprevious bond issue

WILLIAMS FOR

SALE;McLAREN

HEADS TOCOURT

02

“WINNING

CHAMPIONSHIPS

IS GREAT, BUT

I WANT TO BE

REMEMBERED

FOR MYWORK

CREATINGA

MORE EQUAL

SOCIETY THROUGH

EDUCATION”

LEWIS HAMILTON

PICTURE

:OLLIEMILLINGTON/RMV/SHUTTERSTOCK

Just hoursafter announcing

his commission, Hamilton

attended apeacefulBlack

Lives Matterprotest march

inLondon on 21 June