F1: Ferrari (NYSE:RACE) Could Start Independent Racing Series
- Ferrari Could Leave F 1, Start Its Own Series
Liberty Media, the new F1 owner, controlled by media mogul John Malone, is looking to change the iconic Tier 1 motorsport and Ferrari is not having it.
The Maranello outfit has spoken out loudly in opposition to engine regulation changes and profit drops, all making a case for the world’s top marque to ankle F1.
While talks of Ferrari leaving the series have somewhat died down in recent weeks, Ferrari’s CEO Sergio Marchionne kept up the threat at the company’s annual Christmas luncheon.
In a statement to Italian media, CEO Marchionne said that F1 executives are making decisions that go “against the DNA of F1.”
Discussions of standardizing parts and revising power plant rules have caused lots of tension between Ferrari and Liberty, and Ferrari wants the world to know that The Scuderia is not kidding about exiting.
“We are not interested in cars being the same and simple and cheap engines like in NASCAR. But I believe that Liberty Media will satisfy everyone for the future, otherwise, Ferrari will go away. If they believe that we are bluffing, they are playing with fire.”
Mr. Marchionne then brought up Ferrari’s pull within the motorsport community, noting that Ferrari is strong enough to draw other teams away from F 1 as well, though it is not his Key goal.
“If they continue on the path of wanting to turn F1 into NASCAR, with cars all the same, there could be a divorce. If they decide to make us all the same, we will go in three seconds, but that’s not what we want.” He continued, “The conditions for thinking about an alternative championship seriesfrom Y 2021 would be there, but, I repeat, that is not our goal.”
Mr. Marchionne has claimed that leaving F1 could be a major financial benefit for Ferrari.
While he admits that his intentions are to stay, Liberty willing, he claimed that he would not blink at the idea of being the man who pulled The Scuderia team from the sport.
When asked how he would feel if he were to do so, CEO Marchionne replied: “Like a million bucks because I’d be working on an alternative strategy to try and replace it. A more rational one, too.”