Trend reported that Red Bull Ring in Spielberg lost about €30 million in 2016 alone.
The loss is linked with a decline in ticket sales. At the 2014 revival event, 95,000 attended compared to just 40,000 in 2016. The financial loss in 2015, meanwhile, was reportedly already almost €18 million, meaning that the circuit has posted losses close to €50 million in just two years.
"Red Bull has already reacted to the loss and lowered ticket prices for the Grand Prix in 2017," said an 'insider'.
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Login to replyBarron
Posts: 625
A company like Red Bull welcome such losses - they have to offset their massive profits somehow...