Although the motorsport world has seen some massive growth in terms of their digital racing (taking eSports to the next level and beyond), it is no shock that the motorsport industry has still suffered a massive financial loss throughout 2020. Due to the ongoing global pandemic, almost every sport industry across the UK have experienced a massive fall in spectator revenues.
Thankfully the Department of Digital, Culture, Media and Sport have revealed that a £300 million package will be released to fund winter survival funding for sporting events directly impacted by the absence of spectators. Thankfully motorsport will be one of the many recipients that will benefit from this much-needed financial support, unlike football and cricket’s top four tiers.
The £6 million that has been stipulated to the motorsport venues is set to be divided between Donington Park, Oulton Park, the British Automobile Racing club (which manages Pembrey, Thruxton and Croft) along with MotorSport Vision (which manage Brand Hatch) and Goodwood and Silverstone are to be included also.
MotorSport Vision and the British Automobile Racing club were the only two venues who were able to facilitate a very limited number of spectators to watch club level meetings taking place. Although we saw motorsport recommence in July in the UK, spectators were still unable to physically attend the elite British Touring Championship event or any other motorsport event.
The UK Motorsport Chairman David Richards is extremely grateful and delighted to see this government funding come through for the industry as it will be a massive support to all of the circuit venues. Within the industry there are over 40,000 employees, who together have provided millions in revenue to the economy at times. It is vital that their continued operation for the sport is sustained as the industry centers around them during these challenging times.
With the UK facing a second national lockdown ahead of the Christmas holiday, this means even more setbacks for the industry, resulting in all non-elite motorsport getting suspended for a second time. Although it is most unfortunate, it is out of everyone’s control and we can expect nothing more but great work from the motorsport industry who have shown that they are willing to do whatever it takes to come back better than ever, as soon as the time is right.
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