Channel 4 say they are still “fully committed” to airing Formula 1 in the UK, as the broadcaster seeks to reduce costs during the COVID-19 outbreak.
Yesterday, the broadcaster outlined “a number of measures” to help them navigate through the forthcoming months, as COVID-19 hits the broadcasting sector, with advertising revenue plummeting.
Included in the measures is Channel 4’s aim to reduce the 2020 programming budget by £150 million, which according to The Guardian represents almost a quarter of their programme budget.
Last September, Channel 4 agreed a deal with Sky Sports to cover Formula 1 highlights, along with live coverage of the British Grand Prix weekend, through to the end of 2022.
Inevitably, COVID-19 brings into question a lot of Channel 4’s existing arrangements, as the broadcaster seeks to cut costs.
However, the broadcaster says that they intend to continue to cover Formula 1 when the action resumes.
Speaking to this site, a Channel 4 spokesperson said, “We remain fully committed to broadcasting Formula 1 as and when the racing begins.”