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Motorsport Week

Ferrari want clarity over Formula 1’s future before buying a stake

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9 years ago
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Ferrari are open to the idea of buying into Formula 1 through direct investment in return for a stake in the sport, but want clarity from new owners Liberty Media over F1's future direction.

Liberty have set aside $400 million (£320m) in shares which teams can purchase to own a stake in the sport. As of yet, no team has taken up the offer, but it's believed several are interested.

Ferrari chairman Sergio Marchionne meanwhile wants clarification over the sport's future if the Italian manufacturer is to buy a stake.

"We have started exploring the opportunity now," said Marchionne during an investors call on Friday. "We are in discussions with Liberty and I recently had a meeting with Chase [Carey]."

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Marchionne highlighted the fact the Concorde Agreement – which binds the teams to the sport and declares how prize money is distributed and to some degree what powers teams have – is due to expire in 2020, therefore knowing what the sport will look like after that is important to any investor.

"The issue is not just the question of the financial investment. This is something that we do for a living in a very serious way. The Concorde Agreement expires in 2020.

"So, becoming a non-voting shareholder in an entity, which effectively keeps us trapped in without knowledge of what 2021 and the later world will look like, it is something I consider unwise.

"So one of the things we have tabled with Chase, and I think we're not the only ones that are tabling these concerns, is clarity on what the post-2020 world looks like and what Ferrari may be able to get from its involvement in Formula 1 activities."

With multiple teams showing an initial interest, it's believed Liberty have extended the deadline for deals to take place in order to discuss these concerns.

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