F1 talks with new manufacturers taking place – CEO

(GMM) “Many conversations” are taking place behind closed doors as Stefano Domenicali (shown above) admits manufacturers other than Porsche are looking into Formula 1.

While many worry about how many of the 23 scheduled races will fall victim to covid-19 this season, new F1 CEO Domenicali is sounding upbeat.

“We have a contract with the teams, we have a budget cap now,” he told Auto Bild. “These two elements give us stability for the future.

“You also shouldn’t forget – there is great interest in Formula 1 from the financial market. Many investors are knocking on our door. That’s a good sign,” the Italian said.

However, Formula E boss Alejandro Agag recently suggested that the only long-term path forwards for F1 may be a merger with the all-electric series.

“Alejandro and I are friends,” Domenicali reacted.

“The way I see it is that Formula 1 and Formula E are on two different journeys. What we do is sustainable and credible and the audience numbers speak for themselves.”

Indeed, rumors that Porsche officials are eyeing F1 ahead of the new engine regulations for 2025 have intensified beyond mere speculation in recent weeks.

Domenicali, who most recently was CEO of the Volkswagen-owned brand Lamborghini, does not deny that.

“On the one hand, it is important to make the manufacturers that are already here happy,” he said. “But of course it is just as important to attract new ones.

“Many conversations are taking place in the background,” said the F1 CEO. “If we can offer them the right package, I am sure that other manufacturers – not just the Germans – will be interested.”