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Miami GP boss admits shock financial loss
May 12 Top race executive Tom Garfinkel admits the otherwise popular and celebrity-fuelled inaugural Miami GP actually lost money. In fact, he says the losses were greater than were actually anticipated, even though he doesn't regret spending big to put the new street event on the map. 'If you'd asked me six months ago, I would have expected the event to make money given how revenue has been going,' Garfinkel, also boss of the Miami Dolphins and the Hard Rock Stadium, is quoted by Sky Deutschland. 'But if you look at expenses, we're not going to make any money this year.' He admits it's a blow, but insisted that by no means will it jeopardise Miami's new place on the Formula 1 calendar,...
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3y ago from OneStopStrategy.com
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