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Engines off: Canceled iconic F1 race dents Monaco's prestige

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AP Paris
Last Updated : Apr 28 2020 | 4:57 PM IST

Casino wheels have stopped turning, the Champagne is stuck on ice, and yachts bob silently in the famous harbor.

Formula One's raucous circus won't be coming on May 24 for the iconic Monaco Grand Prix. The race was canceled on March 19 because of the coronavirus outbreak, with the jewel in F1's crown removed for the first time in 66 years.

It's a blow to the tiny Principality's huge prestige and its finances. Lost revenue comes to about 140 million euros ($150 million) when you factor in early May's Historic Monaco GP an event featuring old racing cars and also canceled.

Monaco's F1 race has been part of the Principality's image since 1929. Ask people what Monaco represents and answers can range from Grace Kelly and Prince Rainier to the casino and fast cars, when roaring engines set off a weekend of revelry and excess.

In glitzy Monaco, being seen can seem as important as actually seeing the race. More than 200,000 people flock there from Thursday-Sunday, and nearly half won't watch the race.

Monaco's Institute for statistics and economic studies estimates that 40% of people present during the Grand Prix "don't have any visual access."
FAMOUS FACES
NO CHOICE
"It was impossible."
"We had no choice."
UNIQUE RACE
REVENUE HIT
EMPTY ROOMS

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First Published: Apr 28 2020 | 4:57 PM IST

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