Cancelation in Formula 1 to hurt restricted partners

ANKARA

The new coronavirus pandemic has jolted the sports world with cancelations or suspensions of events since March.

But a lot of sponsors that are restricted from advertising are worried about financial challenges.

Formula 1 has a unique platform where alcoholic beverage and tobacco companies are able to advertise products at events.

"We see these types of sponsors in car racing events. It's a marketing strategy of the Formula 1," Turkish academic Sebahattin Devecioglu told Anadolu Agency.

"So I think the Formula 1 and MotoGP's partners will be affected. Where would they advertise?" the professor at the Faculty of Sport