F1 "working overtime" to monitor Middle East as Q1 revenue surges

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Liberty Media CEO Derek Chang says F1 chiefs are "working overtime" to come up with contingency plans for the series' Middle Eastern races, with various options on the table pending on the war in Iran.

F1 was forced to call off its April doubleheader in Bahrain and Saudi Arabia as a result of the US-Israeli war on Iran, with further question marks hovering over the final make-up of the 2026 calendar.

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The Middle Eastern situation has forced F1 to put various contingency plans in place depending on when and how the conflict is resolved. In the most optimistic scenario, either Bahrain or Jeddah could be reinstated, with the free weekend between September's Baku and Singapore rounds the only realistic looking option without causing further calendar disruptions.

With Abu Dhabi contractually guaranteed to host F1's season finale on 6 December, F1 could also shift its date by one weekend to slot in a race between Qatar and the Yas Marina event, although that would create an unprecedented quadruple header with Las Vegas, making an already gruelling stretch of races even tougher.

That is all based on the best possible outcome in Iran, but with there being little semblance of a real strategy in place by the parties involved, F1 will also have to take into consideration a worst case scenario in which its Qatar and Abu Dhabi rounds could also be called into question the longer the conflict drags on.

But the reality is that while F1 owes it to its stakeholders, investors and teams to at least be prepared for every possible scenario, the situation in the Middle East is too fluid right now to be talking about the chances of any individual race being reinstated at this time.

Speaking to Wall Street analysts to discuss Liberty Media's financial results in Q1, company CEO Chang said he was leaving the door open for one of the Middle Eastern rounds to be rescheduled as F1 CEO Stefano Domenicali works "overtime" to consider all possible scenarios.

"We will be thoughtful in our approach, and we will continuously evaluate the calendar this year. It might be possible to reschedule one race toward the end of the season," Chang said. "I think we are evaluating all the various alternatives and trying to make decisions in a timely fashion that will give us as much lead time to the extent we make changes and make adjustments. But I'll let Stefano talk through some of those specifics as he and his team are working overtime and trying to keep up."

Race start

Race start

Domenicali added: "To avoid any speculation, the only thing I can say is that we have plans, hopefully not to be applied because we really hope that the situation for the world, not only for the racing, will go back to normal.

"We have plans, of course. The lead time or the cutoff is different between the fact that we can eventually recover what has not been run in April versus what could eventually happen or not happen at the end of November, beginning of December. We are, of course, aligning with the teams, with the promoters, because that's something that has a big chain reaction. In due time we will keep everyone informed."

F1 increases Q1 revenue by 53%

Liberty Media announced F1's revenue in Q1 of 2026 increased year-on-year by 53% to $617million, up from $403m over the same period last year. F1's operating income rose to $107m, with a core operating profit (OIBDA) of $172m.

F1's Q1 numbers were skewed because it held three grands prix in the first quarter this year, including Japan, up from two in 2025. But F1 also bolstered its coffers by signing new sponsorship deals, including Standard Chartered, and it is bullish on increased revenue from expanded Paddock Club and other hospitality offerings. Q2 revenue will in turn be impacted by the lack of Bahrain and Saudi Arabia rounds, with just five rounds held this quarter compared to nine last year.

"Liberty Media is off to a strong start in 2026, with sustained momentum across Formula 1 and the implementation of our long-term strategy for MotoGP," Chang noted. "F1 continues to demonstrate the strength of its global platform, with growing audiences and deepening fan engagement driving robust demand across all commercial elements."

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