Montezemolo proposes a third way for F1

In a repeated call for a restructure of the F1 commercial arrangements, the president of Ferrari has proposed an alternative approach to that adopted by the GPWC company. Luca di Montezemolo told The Times newspaper: "It is not possible any more to have one F1 owner, but manufacturers must be the constructors and competitors - not the owners of F1. It is possible to have a strong management, owned by all the teams."

Dec 1, 2002, 12:17 PM

Fiat, the parent company of Ferrari, is one of the five automobile manufacturers that have founded the Grand Prix World Championship organisation to prepare for their own, alternative series at the end of the current Concorde Agreement in 2007. With BMW, DaimlerChrysler, Ford and Renault, it wants closer control over its investment in F1 and a greater share of the TV and other commercial revenues, such as those from corporate hospitality and trackside advertising. Currently more than half the income goes to Bernie Ecclestone's 'Formula One' group of companies.

"How can we race when we get just 47 percent of the TV revenues and, to be honest, I don't know how much that is?" asked Montezemolo. "I don't want Ferrari or Mercedes running things, but we have to be part of a company with a strong management and, I hope with Bernie, as long as he is fit enough, to be running it with transparency, a single voice, and an increase in income."