Formula 1 has officially removed the Bahrain Grand Prix (scheduled for April 12, 2026) and the Saudi Arabian Grand Prix (April 19, 2026) from its 2026 calendar. The decision cites travel complications, restricted airspace, and heightened military activity — after coordinated U.S. and Israeli strikes on Iran in late February, Iranian missiles and drones hit Saudi Arabia and Bahrain, leaving regional security in disarray with no clear end in sight by mid-March 2026.
F1 President: Tough but necessary call
F1 president Stefano Domenicali described the move as "a difficult decision to take, but unfortunately the right one at this stage considering the current situation in the Middle East." Talks to relocate races to Italy's Imola or Portugal's Portimão stalled due to tight logistical timelines. The trimmed 2026 season now features 22 races, leaving a five-week gap between stops in Japan and Miami.
Crypto sponsors face $200M revenue hit
Bahrain and Saudi Arabia together pay an estimated $115 million in annual hosting fees to F1. Guggenheim Partners analysis indicates the cancellations could cost F1 roughly $200 million in revenue and cut EBITDA by $80 million. Several major crypto exchanges are directly affected as F1 sponsors: OKX (valued at $25 billion) is McLaren's primary partner since 2022; Crypto.com holds a long-term global F1 partnership through 2030; Bybit is Red Bull Racing's main sponsor with deals up to $150 million. These partnerships were built to engage audiences in the Gulf and worldwide — now regional marketing opportunities have collapsed. Kraken, Coinbase, and Binance also sponsor teams or events, but representatives from OKX and Crypto.com declined public comment.
Dubai crypto conference schedule disrupted
The turmoil extends beyond motorsport. TOKEN2049 Dubai, one of the world's largest digital asset summits drawing over 15,000 attendees, has postponed its next edition to April 21-22, 2027, citing safety concerns and unpredictability. TON Gateway Dubai, dedicated to the Open Network blockchain, cancelled entirely with full refunds for participants. Major events such as Middle East Energy Dubai, Affiliate World Global, and the Dubai International Boat Show have been postponed to late 2027 or delayed indefinitely. The Qatar Grand Prix and Abu Dhabi Grand Prix remain on the F1 calendar for now, with organizers monitoring regional stability.