CEO of Fiat Chrysler Automobiles and Ferrari Sergio Marchione met with leaders of the Liberty Media order to discuss the future of F1.
The fact that the current teams have existing contracts with F1 until the end of 2020, but recently changed the owner of the commercial rights of Large Prizes.
At the meeting, Sergio wanted to find out how they see the future of the sport in Liberty Media.
“We are discussing this issue with Liberty: I recently met with chase [Carey], said Marchione in a press conference. – The problem is not in Finance. We want to understand.
The contract agreement expires in 2020. From our side it would be unwise to invest money without knowing about what will happen in 2021. I wanted to know chase will look like F1 after 2021, and that Ferrari will be able to obtain from their participation in the championship.
As soon as this question comes clarity, then it will be much easier to decide whether we want to continue to participate in this series.
We believe the F1 is able to develop, and investors can benefit from owning this business. We are waiting for clarification, but they have not yet followed.
What do I expect from the sport in 2017? Improvements. I believe that now there is a great base for Ferrari continued to perform in F1. There is an opportunity to lay this base and in the era beyond 2020.
I think Liberty and chase realize that the sport should return factor shows and entertainment. We cannot continue to invest money in a sport that is becoming less popular. You need to change this situation.”
Rumor has it that Liberty Media want to change the system of distribution of prize money to improve the financial condition of small teams and encourage their further participation in the championship.
This means that Ferrari could lose its historic bonus for participation in F1, which would put into question the further participation of the Scuderia in the championship.
“By 2020 there will be no change in the contract Ferrari with F1 – continued the Italian. – This topic is not even discussed. I think it would be unwise to raise it.”
Want to get the most current news website on your mobile device? Subscribe to our channel in the Telegram!