Leading teams to discuss future of F1 - GPUpdate.net


It has emerged that Red Bull, McLaren, Ferrari and Mercedes are set to meet in Stuttgart next week in order to discuss the future of Formula 1. According to The Telegraph, leading representatives of the aforementioned outfits will discuss the new Concorde Agreement plus engine rule changes and the sport’s commercial rights.

A number of hot topics have emerged over recent weeks, with the Concorde Agreement – which binds teams with governing body the FIA plus commercial rights holders such as Bernie Ecclestone – set to expire at the end of next year.

As well as discussing the FIA’s proposals for turbocharged, 1.6-litre, 4-cylinder engines from 2013 onwards, it is also expected that Red Bull, McLaren and Mercedes will question Ferrari over their possible joint takeover of the sport.

At present, Rupert Murdoch’s News Corporation is looking to buy out CVC Capital Partners by forming a consortium alongside EXOR – an Italian investment company which is owned by the same Agnelli family behind Fiat and therefore Ferrari.

 

Ferrari: No comment over EXOR involvement - GPUpdate.net


Ferrari has released an official statement following the media backlash this week, with Rupert Murdoch’s News Corporation having placed a bid to take over the sport’s commercial rights. This has been met with mixed opinions, as it is looking to form a consortium which would effectively include Ferrari as one of the sport’s owners.

Although Ferrari is not directly bidding to buy commercial rights from current owners CVC Capital Partners, it would be involved through News Corp’s partner EXOR – the Italian investment company which is headed by the same Agnelli family behind Fiat and therefore Ferrari.

“We have no comment to make, partly because we are not directly involved at the moment,” a Ferrari spokesperson is quoted as saying on the team’s website. “All we can do is repeat what has already been said so often in the past: Ferrari stresses the importance of ensuring the long term stability and development of Formula 1.”

 

Hmmmm it's all very interesting. I'm curious to see what comes of the meetings. I don't think FOTA will try to leave F1 to start their own series but I can also see them rebelling against the idea of the smaller turbo'ed engines as well as their cut of the money F1 makes.

Even if the company that owns the company that owns Ferrari buys out Bernie, it shouldn't change much because Bernie already gives them preferential treatment.