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DATE News (chronologically)
05/05/11
f1
Ferrari wants CVC to start investing in F1
Ferrari team principal Stefano Domenicali has said Formula One's commercial rights holders CVC needs to start investing money in the sport in order to guarantee the marque's long-term interest.

Domenicali was speaking in a week which has seen more speculation surrounding the ownership of F1, with News Corporation and investment giant EXOR declaring an interest in potentially launching a takeover.

The speculation comes as teams, now under the FOTA umbrella, are due to embark upon negotiations towards a new Concorde Agreement, the commercial protocol that binds them to the sport along with the FIA governing body and CVC itself.

However, teams are unhappy at the share of the sport's revenues they currently receive, with Ferrari president Luca di Montezemolo in the past expressing his unhappiness that CVC takes half of F1's annual profits - around £600million - without putting anything back.

If teams do not get a greater share themselves then threats of a breakaway series, which last surfaced in 2009 when the FIA tried to impose a budget cap, could resurface.

The situation is now complicated further by the fact that the Agnelli family, who have a 30 per cent stake in Fiat, which in turn runs Ferrari, also run EXOR.

Speaking to Gazzetta dello Sport, Domenicali said: "At the moment everything is calm, but soon something will happen.

"From the commercial point of view we need to clarify the following points: who will be involved in the talks?

"I mean which teams and constructors want to stay and which want to enter F1? And who is responsible for the show? A marketing partner is needed.

"It can be CVC once more, but it must invest in F1 and develop, and we must make sure our sport becomes interesting for young people.

"F1 must speak their language, use their technologies, internet, tablets, social forums, and remain comprehensible for the audience.

"F1 is interesting for Ferrari only if these points are taken into consideration, and we must avoid changing the rules too often.

"We need stability, on top of having grands prix in important countries for our sales, first of all in the USA."

In a statement in light of all the talk surrounding the Agnellis and Ferrari, the team have made it clear that stability is paramount.

"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 One."
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