http://www.ft.com/cms/s/0/170f1646-9d87 ... ck_check=1
I'm definitely not a financier, but piecing the three articles together, my best guess of the financials is this:
Gross income: $1,060m (per JS and BB)
Salary exp: $30m (JS)
Team pmts: $521m (all)
Principal pmt: $84m (FT)
Canada writeoff: $22m (all)
Other operating exp: $62m (assumed)
Operating income: $341m (FT)
Interest pmt (cash): $50m (FT - $624m less $574m PIK) perhaps this should go above?
Interest pmt (PIK): $574m (FT)
Depreciation, taxes, etc: $222m (assumed - seems high, but I guess not since taxes are probably paid individually for each race to their respective countries?)
Net loss: $505m (FT, BB; JS says $518m?)
Positive cash flow (excludes PIK and $104m not paid to teams): $160m, plus whatever the depreciation is, and perhaps some other stuff, too.
If all that's true, then perhaps F1 is in a bit of a pickle, primarily due to the interest charges, which indeed seem to be well over 20%. (I've been told that is not unusual for these kinds of loans
).