Latest News
Latest launches
Business Section
Contact Us
Auto Forum & Community
Vendor Login/Signup

Its presence in the sport is no longer guaranteed after 2020

Its presence in the sport is no longer guaranteed after 2020

Since Formula 1’s inaugural season in 1950, Ferrari has received 227 races, sixteen constructors’ championships, and 15 drivers’ titles. But if it may come to a settlement with the new proprietors, Liberty Media, it may pull out of the game.

NBC Sports reports that CEO Sergio Marchionne said Tuesday that Ferrari will withdraw from F1 if it doesn’t just like the adjustments Liberty Media makes to the guidelines for 2021. Most likely, the prancing horse logo desires to preserve the $a hundred million bonus it gets every 12 months for staying in the game. Since Liberty Media finished its takeover, rumors had been swirling that it'd attempt to level the playing discipline by way of eliminating that Ferrari-precise payout.

Marchionne additionally said that pulling out could be “definitely beneficial to the profit and loss,” and that if he did so, the board could be “celebrating here till the cows come home.” When requested how he might sense being the CEO who pulled Ferrari out of F1 for the primary time in 70 years, Marchionne stated, “Like a million bucks, due to the fact I’d be working on an alternative strategy to attempt to replace it. A greater rational one, too.” What that opportunity method could be, however, isn’t completely clean.