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Formula One Group registers $40m profit on back of Covid-19 recovery

Lewis Hamilton of Mercedes AMG Petronas leads the field at the start of the 2021 Abu Dhabi Grand Prix (by Peter Fox/Getty Images)

Formula One Group, operator of the Formula 1 motor racing championship, has turned a $444m (€396.9m) loss into a $40m profit on the back of recovery during the Covid-19 pandemic.

The figures were detailed as F1’s parent company Liberty Media, which also owns Major League Baseball franchise the Atlanta Braves, published its final quarter and full-year financial results for 2021.

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