COVID-19: potential revenue loss for the Vietnam Grand Prix 2020
The COVID-19 pandemic at the beginning of 2020 hit the sports industry hard. Many professional leagues across the globe suspended their seasons and numerous events were cancelled, including several races in the Formula One season. The Vietnam Grand Prix, which had been scheduled for April 5, was cancelled in light of the pandemic, costing Formula One an estimated 33.1 million U.S. dollars in hosting fees and a further 5.1 million U.S. dollars in corporate hospitality tickets. An additional six million U.S. dollars was projected to be lost through the title sponsor, VinFast.
