F1 is working overtime on contingency plans for its cancelled Middle Eastern races

Liberty Media CEO Derek Chang has confirmed that Formula 1 is actively developing contingency plans to address the fallout from the cancellation of its Middle Eastern rounds, with F1 CEO Stefano Domenicali and his team working "overtime" to evaluate every possible scenario — even as the conflict in Iran remains dangerously fluid.

The Middle East Dilemma

As we explored in our analysis of F1 and the FIA's ongoing calendar discussions following the Middle East cancellations, October dates and alternative venues have also been under review as part of the broader contingency effort.

Yet the harsh reality is that all of this planning hinges on how and when the conflict resolves — and right now, there is little semblance of a coherent strategy among the parties involved. F1 must also confront a darker scenario in which the conflict drags on long enough to put Qatar and Abu Dhabi themselves in jeopardy. While the sport is obligated to its stakeholders, investors, and teams to plan for every eventuality, the situation remains too volatile for any concrete commitments about individual races.

Speaking to Wall Street analysts during Liberty Media's Q1 financial results call, Chang left the door open for at least one Middle Eastern round to be rescheduled, while deferring to Domenicali on the specifics.

"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."

Domenicali, characteristically measured, was careful to manage expectations without revealing specific timelines.

"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," he said. "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."

The ripple effects of the cancellations have extended beyond the calendar itself. The FIA has already revised its ADUO engine development regulations in response to the reduced race count, adjusting development review periods to account for the lost Bahrain and Saudi Arabian rounds — a sign of just how deeply the disruption is reshaping the 2026 season across multiple dimensions.

F1 Q1 Revenue Jumps 53%

Against this turbulent backdrop, Liberty Media delivered a strong set of financial results for the first quarter of 2026. F1's revenue climbed 53% year-on-year to $617 million, up from $403 million over the same period in 2025. Operating income rose to $107 million, with a core operating profit (OIBDA) of $172 million.

The year-on-year comparison was partially flattered by the calendar structure: F1 held three grands prix in Q1 this year — including Japan — compared to just two in 2025. Beyond the race count, the series also bolstered its commercial position through new sponsorship agreements, including a deal with Standard Chartered, and reported strong demand for its expanded Paddock Club and hospitality offerings.

The Q2 picture, however, will look considerably different. With the Bahrain and Saudi Arabia races stripped from the schedule, just five rounds are set to be held in the second quarter, against nine over the same period last year. The financial impact of those cancellations will inevitably weigh on the next set of results.

Chang remained bullish on the sport's long-term commercial trajectory, pointing to audience growth and deepening fan engagement as the foundations for continued revenue expansion.

"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," he said. "F1 continues to demonstrate the strength of its global platform, with growing audiences and deepening fan engagement driving robust demand across all commercial elements."