Ferrari is not horsing around with new F1 changes
CEO Sergio Marchionne claims they will save a lot of money doing so
More News from William Herrera
As the most recognized and admired brand in Formula 1 racing, Ferrari has issued a strong warning to Liberty Media, F1’s new owner that the team from Maranello will quit if it looses its exclusive Financial bonus from F1. Liberty Media took over the ownership of Formula One from Bernie Ecclestone earlier this year,
Liberty media has been making changes to the sport to make it more appealing to fans and to prospective sponsors. One major change being discussed is the rebalancing of how income is distributed, and hopefully level the playing field to give less sucessful teams a bigger “slice of the pie”. This is particular proposal earned the ire of Ferrari CEO and chairman Sergio Marchionne, who was quoted in saying “there were a couple of things that we don’t agree with. The fact that we now appear to be at odds in terms of the strategic development of this thing, and we see the sport in 2021 taking on a different air, is going to force some decisions on the part of Ferrari.”
“ I understand that Liberty may have taken this into account in coming up with their views, but I think it needs to be absolutely clear that unless we find a set of circumstances the results of which are beneficial to the maintenance of the brand, and marketplace, and to the strengthening of the unique position for Ferrari, Ferrari will not play.”
Marchionne discussed the impact financially of Ferrari leaving F1, which according to him would be “totally beneficial to the profit and loss” and the board would be “celebrating here until the cows come home”
It is clear that Marchionne has the best interest for Ferrari in mind, and, when probed on how he would feel as the person responsible for taking Ferrari out of Formula 1, the feisty Italian replied” like a million bucks, because I’d be working on an alternative strategy to try and replace it. A more rational one, too.”
Under the concorde argeement, Ferrari is committed to racing until 2020, but the current contract was agreed upon back in 2013, when then F1 bossman and Ferrari pal, Bernie Ecclestone was still at the helm.
Ferrari has been racing since the inaugural race back in 1950; with 227 race wins, 16 constructors championships, and 15 driver’s title in 68 years, Ferrari certainly know that they have the “muscle” to tilt the scales in their favor, because, as eveyone knows that Formula 1, without Ferrari, will die a slow, natural death.