Feb.18 (GMM) F1's corporate hospitality and advertising business is in the red, the London newspaper The Daily Telegraph has revealed.
The sport's owner, CVC, made an after-tax loss of $3m in that division of the business, after having to pay $22.5 million in interest on its loans of $334m, the latest accounts reportedly show.CVC's Beta Holdings accounts also show turnover of $91m and costs of $87m.The Telegraph also reveals that the Canadian and French grands prix this year are yet to secure main sponsors.
