F1: Ferrari (NYSE:RACE) Expects to Conclude Seb Vettel’s Contract Talks “very soon”


Ferrari (NYSE:RACE) is hoping to conclude contract talks with Sebastian Vettel swiftly to keep the 4X F1 world champion beyond the end of this year.

Ferrari has yet to agree a new deal with Mr. Vettel, but said at the launch of its Y 2020 F1 car that he is its 1st choice to line-up with Charles Leclerc, whose contract runs until the end of Y 2024.

Speaking during pre-season testing at Barcelona, Ferrari team Boss Mattia Binotto said he wanted the matter to be sorted out soon.

I already mentioned it: Seb is our 1st choice,” he reiterated.

As I always said, it is a great line-up, probably the best we have in F1, of which I am very happy and very proud to have at Ferrari.

We are really starting an early discussion with Seb. We all are aware the contract is finishing, but it will come very soon to finish the discussion and see what’s in the best interest of both of us.

What is more a matter is the project which we are sharing, even our longer-term view, so we will come very soon I am sure to an agreement.

Asked how much he was thinking about it, Mr. Vettel said: “Right now we are very busy with other stuff and therefore right now I would say Zero.

Time will tell but I think it does not change anything right now.

We know what we what we want to achieve, where we want to go and where we are now. So the answer is still Zero.

Mr. Vettel said he is as engaged with racing as he always has been.

I have been around for a while and I love what I do,” he said. “I love driving.

I got really excited when I got in our new car last week.”

Ferrari is the Aristocrat of the automotive sector.

Enzo Ferrari’s iconic Italian Supercar manufacturer claimed the title according to the latest Brand Finance Global 500 2019 report launched at the World Economic Forum in Davos.

HeffX-LTN overall technical outlook for RACE is Neutral to Bullish, there is resistance 167.60 and Key support is at 154.44.

Ferrari finished at 157.75, +1.66 Friday in NY.

Ferrari will continue to create value in the long term. Ferrari is a quality 1st long term luxury products investment, and I have called it at it at 200+/share long term, adjusting it to 200/share short term and siding with BAML to 230 long term for now

Have a terrific weekend