Sebastian Vettel, “Happiness, not money, Key to new Ferrari F1 deal”
Ferrari (NYSE:RACE) F1 driver Sebastian Vettel says money “is not the most important thing” in his discussions with Ferrari about a new contract.
Mr Vettel, 32 anni, who joined Ferrari in Y 2015, has been in talks with The Scuderia over a new contract in recent weeks.
Ferrari team boss Mattia Binotto stated in February’s Barcelona pre-season test he was confident Ferrari and Vettel “will come very soon to an agreement.”
The 4X world champion said: “It depends what’s important to you, what drives you.
“And that’s fair. If money is your motivator then it can drive you very far, and make you very successful.
“There are a lot of sportsmen, businessmen that thrive for money. I think the question really is whether people have a sense of enough.
“That is not just valid for Formula 1.
“We are putting our life in a way also on the line, then you need to show some appreciation for that.
“Our careers also are shorter than some other careers. I think the really important thing is that you are happy, that’s the Key.
“Obviously, F1 is a bit of a circus and a spoiled circus, because they have a lot of money involved and money tends to spoil people.
“I think on average that is true. But the question is, like I said, if you have a sense of enough.“
Mr. Vettel revealed he is also pondering his future after F1.
He does not rule out racing in other championships following the conclusion of his F1 career, which started in Y 2007.
“If I am realistic, I am not going to be here in 10 years,” he added.
“So I think this is something you naturally start to think about.
“I think I am in a very fortunate position that I can probably try and do a lot of things, once I have decided to stop racing in F1.
“Maybe race something else, maybe do something different in motorsport or do something completely different outside.
“I have some ideas, but I have not decided. I am very relaxed.“
HeffX-LTN overall technical outlook for RACE is Neutral, there is Key resistance 167.47, and support is 138.29, 2 of my Key indicators have turned Bearish as the stock is very oversold. Technically, it is Neutral with a Bearish bias.
Ferrari finished at 134.83, -7.02 Friday in NY, and shares were raised to Buy from Hold at HSBC.
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 (after the virus) and siding with BAML to 230 long term for now.
Have a healthy day, stay home!