Di Montezemolo Confident of Deal with Ecclestone

Ferrari president Luca di Montezemolo is confident the teams can reach agreement with Formula One supremo Bernie Ecclestone over the future of the sport, he told Reuters at the Geneva Motor Show on Wednesday.

"We need to see if there is a way to find an agreement (with Ecclestone) which increases the weight and revenues of the constructors," said di Montezemolo, who was nominated to the board of Ferrari's loss-making parent company Fiat on Friday.

The existing Concorde Agreement between teams, governing body FIA and commercial rights-holders expires at the end of 2007 and the major carmakers involved in F1 are in talks with the banks about taking a stake while also planning their own series from 2008.

Ecclestone, whose family trust still has 25 percent of holding company SLEC, has been quoted by the Sunday Times as saying he is willing to re-purchase the remaining shares if teams agreed to commit to the F1 Championship until 2015.

"We have many important things to discuss with Mr. Ecclestone and I hope we can find an important new agreement for the future that puts together three elements," said di Montezemolo.

"First, we must ensure the long-term stability of Formula One. Second, a lot more of the revenues must come to the teams because we cannot go on with these levels of turnover. Also car manufacturers must have more control of Formula One. These are the key goals and I am confident we can find an agreement."

Ecclestone said: "We're talking now and it'll all get sorted out. Luca is going to be busier with Fiat now so maybe Ferrari won't be so quick - that's what I hope."

Ecclestone's reference to Ferrari's speed comes after the Italian company's dominance of the sport with World Champion Michael Schumacher, who will be aiming to win an unprecedented sixth title starting in Melbourne on Sunday.

Very Motivated

"It's going to be very hard (for Ferrari) to repeat what we did last season, but we are very motivated and we're concentrating on getting that fifth constructors title," di Montezemolo said.

"But we're going into the season with the same trepidation as if we were young lads starting out. The competition is strong. We haven't decided when to start using (new car) F2003-GA, but certainly we won't use it for the first two races."

However, Ferrari won't be racing by the same rules this year since points, pole and strategy have all changed as the sport fights to cut costs and recapture television audiences.

Di Montezemolo favours some rule changes, but not all.

"I agree with some of the new rules but there are others I don't like. I don't like the risk that some of the fundamental characteristics of Formula One might be changed. We mustn't go too far. We'll see how it works for the first couple of races."