The Australian Grand prix holding in Melbourne - or should I say that was to hold in Melbourne starting today has been cancelled due to the Covid -19 pandemic.

This became inevitable after 4 members of the Haas F1 team were quarantined (but have been reported free of the virus) and 1 member of the McLaren F1 team diagnosed with the virus. McLaren then pulled out of the event.

Ross Brawn, MD of Motorsports of F1 had previously said any race would.be cancelled if all teams could not participate. But this was in anticipation of Ferrari, Haas, Alpha Tauri and Pirelli the tire supplier not being able to make it to.any of the races as they all have significant number of staff coming from Italy.

Lewis Hamilton had also criticised the decision to continue with the season opening Australian GP saying "cash is king" and that financial issues were being considered over medical and safety issues.

With the Bahrain GP (2nd race of the season) due to be held behind closed doors and may still be cancelled, the Vietnam GP already set to be cancelled, and the Chinese GP already cancelled, the first race of the season might be held in 3 months time! This is of course a disaster for F1 and I might add, for me personally as I have been without my F1 fix since Abu Dhabi last year and withdrawal symptoms are seriously kicking in!

There are major financial losses staring F1, the teams, the host countries and hundreds of thousands of others that depend on the sport. Small teams like Williams and Haas are in particular danger if thier paychecks are significantly dented by loss of races and TV time.

Competition wise, it becomes more difficult for the drivers as they have fewer races tomake points or make up lost points.

2020 is already shaping up to be a worrying year for sports worldwide.

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Only 3 teams were still willing to race as at yesterday. Redbull, Alpha Tauri and Racing Point with one senior member saying "we are racers and are here to race".

But a flight manifest going around the internet showed Sebastian Vettel and Kimi Raikonnen already booked to leave Autsralia today!

This would have led to a repeat of the bizare 2005 US Gp when only 6 cars lined up on the grid because their Michelin tires were not safe enough for the race

Update: 14 McLaren team members have now been placed in isolation because of the corona virus.

The corona virus is having a big impact on F1 owners Liberty Media as their stock fell by almost 4% to it's 2017 values (when they were still making loses).

Certainly F1’s very existence is bound inextricably to its complex finances. Race hosting fees are one of the three biggest sources of income for the sport. Income on which every team depends for their survival. The other two streams are broadcast rights and sponsorship. Both are at risk when there is no show in town.

There is a complexity too to the relationship of the players involved. The organisers do not want to be the ones to cancel a race, for risk that they will lose their race fee. Likewise F1 do not want to be the ones to do so or be held responsible for failing to deliver their product to broadcasters and sponsors and potentially having to return the race fee. Between them the FIA apparently also tries not be held culpable for cancellation for fear any of the other parties find them responsible.

https://www.theguardian.com/sport/2020/mar/13/australian-grand-prix-formula-one-mismanagement-coronavirus

Chairman of the Australian Grand Prix Organisations, in response to journalist questions, said discussions about who bears what financial responsibility will be discussed between all stake holders over the coming months. Considering that Formula 1 under Liberty Media just started turning a profit last year, these discussions are going to be very..... testy.

Update: The Bahrain and Vietnam Grand Prix have now officially been called off. This means Australia, Bahrain, Vietnam and China, the first 4 races of the season, have been cancelled (or postponed).

The Formula 1 2020 season should now be starting with the Dutch GP May 3rd. But with the situation in Europe at this time, that may not be likely. Spain and Monaco are next. Also may be postponed. This will make the first race Baku for the Azerbaijan GP in June.

Seems like the biggest obstacle to Lewis Hamilton equalling Michael Schumacher's 7 World Championships and 91 race wins is not Max Verstappen or Charles Leclerc, but Corona. Ouch.

Update: A team member of F1 tyre supplier Pirelli has tested positive for the Corona virus.

With the cancellation of the Australian GP, Pirelli has had to destroy 1,800 sets of tires that were meant to be used at the Grand Prix. They will be used as fuel in a cement factory.

Update:

Fears are high that reigning and 6 time F1 World Champion Lewis Hamilton may have been infected by the Corona virus.

After Idris Elba tested positive for Covid 19, and Sophie Trudeau, wife of Canadian Prime Minister Justin Trudeau, pictures showing Lewis Hamilton in close proximity with both of them during the WE Day UK 2020 have raised fears that Lewis may have contracted the virus at the event held March 4.

If he hasn't, then he is truly one of the greatest and luckiest drivers in F1 ever!