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-0.000329200043893352 -0.000493800065840027 0 -0.000109733347964503 -0.00866893448919133 -0.01293207505761 -0.0127707670361024 -0.0120706682760892
Stock impact report

F1 Gets $1.4 Billion Lifeline To Keep Teams And Tracks Ticking Over [Forbes]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Company Research Source: Forbes
F1 has been given a $1.4 billion boost to get the season underway (Vladimir Rys Photography via... [+]Getty Images)Formula One's beleaguered teams and tracks have been given a $1.4 billion lifeline after the sport's owner Liberty transferred a 33% stake in event promoter Live Nation to the satellite radio broadcaster SiriusXM.F1's teams have been in limbo since the onset of the coronavirus outbreak which has put the brakes on the first nine races of the season. The teams' revenue largely comes from sponsorship and prize money which both depend on races taking place.Likewise, as we recentlyrevealedToday In:Today's transaction should help F1 to navigate both of these roadblocks as Liberty said that it "increases cash liquidity by approximately $1.4 billion." It added that this can be used "for F1 in event of continued delay of season, including preserving health of ecosystem."Liberty said that the funding also "improves discussions with lenders regarding F1 bank covenants which will ne Show less Read more
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