Ferrari and Ecclestone at odds on how Formula 1 should be run
Anyone who's watched the trials and tribulations of Formula 1 over the last few years knows that Bernie Ecclestone usually keeps to himself. But if you provoke him, he'll always say exactly what he thinks -- and it's usually more than you'd hoped for. That appears to have happened yet again after Ferrari head Luca de Montezemolo told a group of journalists that he thought it might be time for Bernie to step down, give the F1 teams more money and stop holding races in far-flung places "just because they have a nice skyline." More specifically, Montezemolo said "In terms of revenue, we want to know more about them. Theoretically, like in other professional sports, like basketball in the USA, we can have a league made by us and appoint a good league manager to run our own business. Because it is our own business." Ecclestone's reply essentially amounted to: "Shut up." He said that Ferrari's loyalty was bought during the breakaway threat of a couple years ago, when the teams threatened to leave F1 over a dispute with the new Concorde Agreement. Ferrari was the first one to break rank, and Ecclestone says that was done because Ferrari was promised about "$80 million more when they win the constructor's championship."
As for revenues, Ecclestone said that Ferrari, like any other team, can check the books whenever it wants. And as for far-flung races, with CVC Capital Partners still in huge debt from buying into the series, the number-one goal now is to go where the money is. That probably means more races in Asia than Europe, and more nice skylines for the time being. As far as we're concerned, if it brings more passing, we're on board.
[Source: Autosport]
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Reader Comments (Page 1 of 1)
Mobius_1 8:26AM (12/22/2008)
Maybe they should consult the Top Gear trio :P (That would certainly make F1 more spectacular, although I'm not too sure about the drivers' safety then)
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hyundaifans.com 8:43AM (12/22/2008)
Hell no!! Not those idiots from Top Gear! Now the guys from Fifth Gear i like. I agree with Ferrari to a point though. Bernie and Max have to go.
Pierre 9:54AM (12/22/2008)
The collusion between Ferrari and FIA-F1 is now exposed, it's about time. I have stopped watching F1 since it became Ferrari's circus.
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J.D. 10:37AM (12/22/2008)
I'm sorry, but I am completely in agreement with old man Montezemolo here. F1 has got to stop these ridiculous "cost-cutting" measures. So they are in debt up to their eyeballs? Well, do you want to know where F1's revenue comes from? Sponsors. And why have big-ticket sponsors backed out of F1? Because F1 is leaving the big-ticket sponsors' markets and holding races in the middle of deserts and in third-world countries where only a few extremely wealthy people have heard of F1. Europe and North America are the markets F1 should be targeting. Canada was always one of the most crowded races on the schedule, and sponsors are willing to chuck some cash into a moneypot like that.
Going "where the money is," namely Asia and the Middle East, is a huge economic blunder, because the money there is almost exclusively held by single entities. The Abu Dhabi Grand Prix is being sponsored by Etihad Airways, which is the "national airline" of of the UAE, and is also run by a member of the Al Nahyan family, which is the ruling family of the UAE. This entire thing is being sponsored by a single family. Western sponsors are not going to go for that.
In this case, Ferrari is saying what is in the best interest of the entire sport, not just Ferrari. Technically, Ferrari should not care about the location of the races, especially Abu Dhabi. Ferrari themepark, anyone?
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C Smith 10:49AM (12/22/2008)
If they really do all start using the same engines as seems likely then the whole point of the racing will be lost. If Ferrari were to pull out there would be no point in Formula 1 anyway. I can see the whole thing tanking in a year or two unless the cars get interesting.
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JZeke 11:15AM (12/22/2008)
F1 has to be dangerously close to the brink of total collapse. If they go forward with a spec series that doesn't include a single race in the western hemisphere I think its going to end up a massive track day event for oil sheiks and Asian playboys.
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Pdexter 12:08PM (12/22/2008)
That total collapse is a bit over exaggerating it. It's still world 3th most watched sport(after football and American football) and by far biggest racing series when measured by money and viewership. Last season Brazil hitted records in key markets UK, Spain, France, Germany(haven't seen total numbers yet that includes all countries combined thought).
If F1 goes down totally that means there's no other big cash racing series either.
That said if f1 turns up as a spec series at some point it will only be popular because of the history, branding and big brands involvment. Would surely lost big part of the charm as F1 is actually much more than racing it's those mind blowingly expensive tech shows running the circuit, drama and a bit of a carnival feel. Some more of bad news is bound to happen seeing that ALL manufacturers will be taking hits.
why not the LS2LS7? 12:11PM (12/22/2008)
It doesn't matter how many eyeballs you have watching if you don't have more money coming in than going out.
Formula 1 was on thin ice before the economic problems. Now the whole story has changed further. All the teams based upon car companies have to be looking at pulling out unless the costs can be cut drastically. I mean like over 80%.
why not the LS2LS7? 12:14PM (12/22/2008)
It's not every day I agree with Ferrari, but they are right on here. And the "good skylines" comment is hilarious.
Even without the global economic problems, the strategy of racing in far-flung places because it garners larger sanctioning fees is long-term stupid. F1 will lose mind share (slowly) at home, and that's not good. These companies are spending a lot of money of their teams, and need their publicity in the right places in order to make it work.
And trading half of the European races and all the North American races away for races in Dubai and Shanghai is dicey.
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Franz 12:19PM (12/22/2008)
While I definitely agree that there needs to be some serious change in the way that F1 is run, I find it funny that Montezemolo had the balls to complain about more money when everyone knew that Ferrari has been getting a load more money than everyone else... and now Bernie has confirmed just how much: an extra $80 million for winning the constructors championship... ie $80 million more than McLaren would have gotten if they had won it. In Bernie's own words:“The only thing Montezemolo has not mentioned is the extra money Ferrari get above all the other teams and all the extra things Ferrari have had for years – the ‘general help’ they are considered to have had in Formula 1”
I'm just glad the cat is finally out of the bag with regards to Ferrari's preferential treatment. I can't wait to hear what their retort is gonna be...
But still, I hope they come to an agreement on this because I would not want to see Ferrari... or any other manufacturer leave F1. I love the sport too much. I don't understand the calls for transparency though... under the terms of the Concorde Agreement, teams already have the right to investigate and examine the finances of the business... none of them have ever done it. If the FOTA is so concerned, they should have sent someone to have a look, instead of having Montezemolo shooting his mouth off and complicating things between the FOTA & CVC.
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Mark 3:19PM (12/22/2008)
true
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