Luca di Montezemolo, the president of Ferrari, recently gave an exclusive interview to CNN in which he revealed some interesting information about the future of the Scuderia Ferrari in Formula 1.
He revealed that the Concorde Agreement - the settlement between CVC Capital Partners, the private equity firm that owns the commercial right of F1 and the teams - may not be renewed.
The Italian businessman said that the F1 teams may try to take control of the elite motorsport when the rights agreement expires at the end of 2012.
Montezemolo said that the teams had three options at the end of 2012: to renew with CVC; find a new partner; or follow the lead of basketball's NBA and create their own company to run the sport.
The 63-year-old told CNN: “We could create our own company, like the NBA. Just to run the races, the TV rights and so. We could also try to find a different partner. Bernie Ecclestone did a very good job but he has already sold out three times, so he doesn't own the business anymore. It is CVC that will sell. It will be the teams' decisions.”
The president of Ferrari added that the new rules have made the sport confusing for the teams and the fans.
He said: "We have gone too far with artificial elements. It's like, if I push footballers to wear tennis shoes in the rain. To have so many pit-stops - listen, I want to see competition, I want to see cars on the track. I don't want to see competition in the pits. In the last race there were 80 pit-stops. Come on, it's too much”.
He then added in this interview with CNN: "Ferrari will push a lot with the authority - with the respect that we have to the federation and the other teams - to avoid going too far with F1. Because I think it can create problems for the television people and on the racetrack".
He revealed that the Concorde Agreement - the settlement between CVC Capital Partners, the private equity firm that owns the commercial right of F1 and the teams - may not be renewed.
The Italian businessman said that the F1 teams may try to take control of the elite motorsport when the rights agreement expires at the end of 2012.
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| Luca di Montezemolo and Fernando Alonso. (Photo: WRI2) |
Montezemolo said that the teams had three options at the end of 2012: to renew with CVC; find a new partner; or follow the lead of basketball's NBA and create their own company to run the sport.
The 63-year-old told CNN: “We could create our own company, like the NBA. Just to run the races, the TV rights and so. We could also try to find a different partner. Bernie Ecclestone did a very good job but he has already sold out three times, so he doesn't own the business anymore. It is CVC that will sell. It will be the teams' decisions.”
The president of Ferrari added that the new rules have made the sport confusing for the teams and the fans.
He said: "We have gone too far with artificial elements. It's like, if I push footballers to wear tennis shoes in the rain. To have so many pit-stops - listen, I want to see competition, I want to see cars on the track. I don't want to see competition in the pits. In the last race there were 80 pit-stops. Come on, it's too much”.
He then added in this interview with CNN: "Ferrari will push a lot with the authority - with the respect that we have to the federation and the other teams - to avoid going too far with F1. Because I think it can create problems for the television people and on the racetrack".