Formula One (FWONK) Organizers Could See a $200M Hit due to Iran War

FomoAnxiety · 2026-03-16T21:09:58+00:00

Formula One has canceled two races in Bahrain and Saudi Arabia due to safety concerns related to ongoing regional conflicts, resulting in a five-week gap in the racing calendar and potential financial losses of $200 million.

FomoAnxiety

2026-03-16 21:09:58

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Motorsports company Formula One FWONK +3.54% ▲ confirmed that two upcoming races in Bahrain and Saudi Arabia have been canceled and have not yet been rescheduled. As a result, the racing calendar will now have a five-week gap between the Japanese Grand Prix on March 29 and the Miami Grand Prix on May 3. In addition, the cancellation is expected to have a financial impact, with some estimating that organizers could lose roughly $200 million across both races if insurance does not cover war-related disruptions.

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Although several replacement options were considered, the organization ultimately decided not to add any substitute races in April. In addition, the scheduled events for FIA Formula 2, FIA Formula 3, and the F1 Academy will also not take place during that period. According to Formula One, the decision was made after discussions with the Formula One Group, local race promoters, and regional member clubs. In a statement, CEO Stefano Domenicali said that the move was difficult but necessary due to the current war in the Middle East.

In fact, the Bahrain International Circuit sits only about 22 kilometers from a U.S. naval facility that was recently targeted by Iranian missiles and drones. With both Bahrain and Saudi Arabia facing missile and drone attacks, including strikes near the U.S. Embassy in Riyadh and fuel infrastructure in Bahrain, officials are worried that hosting events with more than 100,000 spectators over a race weekend could pose unacceptable safety risks.

Is FWONK Stock a Good Buy?

Turning to Wall Street, analysts have a Hold consensus rating on FWONK stock based on two Buys, 19 Holds, and three Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average FWONK price target of $117 per share implies 34.8% upside potential.

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