F1 'Expected' To Drive Up Its Loans To Pay Teams [Forbes]
Honda Motor Company, Ltd. (HMC)
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Source: Forbes
F1 is on track to use its cash and boost its debt to cover costs if the 2020 season is canceled... [+](ALEXANDER NEMENOV/AFP via Getty Images)Formula One is on track to boost its borrowings and draw on its $402 million cash reserves in order to pay its ten teams and cover its overheads if its 2020 season gets the red light due to the coronavirus pandemic according to credit rating agency Moody's.F1's ten teams have been stuck in limbo for the past three weeks since the auto racing series put the brakes on its first eight races after a member of the McLaren squad tested positive for COVID-19 before its season-opener was due to take place in Australia.F1 initially said that the season would re-start in May but later pushed it even further back. In a statement two weeks ago F1 said that it still plans to hold “between 15-18 races” this year but didn’t say when the season-opener would take place. Instead it said that it will get underway “at some point this summer.”Today In:SportsThat doe
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HMC
Sec Filings
- 11/17/25 - Form 6-K
- 11/7/25 - Form 6-K
- 9/11/25 - Form 6-K
- HMC's page on the SEC website