Formula 1’s commercial momentum encountered a sharp financial slowdown in the second quarter of 2026, driven primarily by external geopolitical disruptions. Liberty Media’s latest financial statement reveals that total Formula 1 revenue plunged 38% between April and June, dropping to $764 million or 38% compared to $1.22 billion generated in the same period last year. Conflict in the Middle East forced the postponement of both the Bahrain and Saudi Arabian Grands Prix. Coupled with Imola's removal and Japan’s shift into the first quarter, the sport staged just five races in Q2 compared to nine during the previous year. Operating income took a massive hit, tumbling from $293 million to $73 million, while adjusted operating income before depreciation and amortisation fell to $139 million from $361 million.