News broke earlier this week of Vettel and Ferrari parting ways. It has now been revealed that this actually cost Formula 1 $90 Million Dollars.
According to Formula Money, the Company who covers the business of F1 shared the news that the company's Shares had dropped 4.5% because of Vettel's news. It then rose again by 3.1% down to Sainz move to Ferrari being released 48 hours later. Meaning that in total they lost $90 Million Dollars. This all boils down to when Liberty Media took over the Business they floated it on the stock market. It was a big risk as Formula Money said "should have never been floated because it is influenced by too many external Factors", one of which we are seeing now.
They went on to say in their tweet:
"We Tweeted yesterday that #F1 should have never been floated because it is influenced by too many external factors. Here's more proof: Vettel leaves Ferrari: $FWONK -4.5% Sainz joins Ferrari: $FWONK +3.1% Both prices from the same time. That's a net loss of 1.4% or $90 MILLION..."
Every business posses a risk when they float the company on the stock market but WOW that's a big hit to take!