This is how much money Formula 1 loses due to the Imola cancellation? The first free practice sessions for the Emilia Romagna Grand Prix were supposed to take place on Friday, but the race was cancelled before most of the team personnel turned up in Italy.

Heavy rainfall at the beginning of the week and subsequent flooding made the Imola Grand Prix classic impossible. On Wednesday, Formula 1 also decided to cancel the Grand Prix. The safety of fans, teams and not least the Formula 1 staff could not be guaranteed, the racing series said. Further, the local region could not spare the emergency services to support the race weekend.

The situation in the affected region is dramatic enough as it is. Access roads are flooded and closed, some houses are already under water. There was no alternative to cancelling the race.

Also because even the Formula 2 paddock was already flooded and the teams could not begin with their set-up work.

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Cancellation costs in Euros

So the Emilia Romagna Grand Prix is cancelled completely. In the tightly packed race calendar, there is no chance to make up for the Grand Prix. The European races are too tightly scheduled until the four-week summer break, there was no more room.

Therefore, in the season that is supposed to be the longest in Formula 1 history with 24 races, only 22 Grands Prix will be held.

Of course, the cancellation also has repercussions for Formula 1 itself, causing millions in damages. Since the devastating rainfall is considered “force majeure”, the promoter of the circuit does not have to pay the entry fee to Formula 1.

There is talk of about 30 million euros lost. Race promoters pay several millions to the motorsport’s “pinnacle” series, and can then recoup the money with ticket sales and promotional events. For Formula 1, these 30 million euros are now lost. The track operators, meanwhile, hope to get a contract extension at least until 2026.

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Imola rescheduled for 2026

The Emilia Romagna Grand Prix’s contract with Formula One runs until 2025 and it would therefore be more sensible to extend the current contract by another year so that this year’s 2023 event can be rescheduled for the 2026 season.

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“Cheap” entry fee

A comparable race cancellation at the new circuits in the Arab world or in North America would cost considerably more money to Formula 1. This is because these promoters pay a much higher entry fee. In the case of Jeddah, it is believed that their fee is up to 90 million euros, three times as much.

Imola is one of the tracks that has to pay one of the lowest entry fees. Meanwhile, the thousands of motorsport fans who bought tickets will all get their money back.

Next weekend the next race is the Monaco Grand Prix, a race relatively close to Imola, which is expected to go ahead despite the residual poor weather.

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