Ferrari (NYSE:RACE) and the Fate of F1 Racing
Ferrari (NYSE:RACE) has been and still is the mainstay in F1 racing since making Enzo’s debut in Y 1950.
Their biggest success came with Michael Schumacher, who won 72 Grands Prix and took home 5 Drivers’ Championships.
Today Sebastian Vettel, a 4X world champion, and former champion Kimi Raikkonen are The Scuderia’s race drivers.
The Scuderia is held in high regard due to their success over the years and dedication to the Tier 1 motorsport.
Lately, since the acquisition of F1 by John Malone’s Liberty Media, Ferrari management has made threats to quit and set up its own event away from Mr. Malone’s entienty
Ferrari Chairman Sergio Marchionne’s warning is a case of Ferrari flexing its muscles before F1 and the teams return to the negotiating table later this year to decide the future of the motorsport.
The dust up is over the reviewing of F1’s proposed engine platform for Y 2021, and Mr. Marchionne is positioning Ferrari to be dominant in the negociations.
This is not the !st time Ferrari have threatened F1, but in the past, things worked out its way, and there was no need to follow through with the threats.
Mr. Marchionne has declared that Ferrari will be working on ‘alternative strategies’ to eventually compete outside of F1.
It will be very interesting to see this unfold.
Remember, Ferrari is F1 and F1 is Ferrari
Friday, Ferrari’s shares finished at: 117.84, +0.68, or +0.58% in New York Vs a 52 wk trading range of 59.52 – 121.14.
Q-4 Y 2017 Earnings are due at the end of January
Have a terrific weekend.