Skip to main content

Ferrari chief Montezemolo speculates his team could pull out of Formula One

updated 10:45 AM EDT, Fri September 7, 2012
STORY HIGHLIGHTS
  • Ferrari chief Luca Di Montezemolo unhappy with recent F1 developments
  • Speculates Ferrari could withdraw from F1 in future if changes are not made
  • Lukewarm about plans for F1 flotation on Asian stock markets
  • Refuses to give guarantees about future of Felipe Massa

(CNN) -- Ferrari chairman Luca Di Montezemolo has speculated that his famous marque could withdraw from Formula One and compete in other categories of motorsport.

Di Montezemolo is unhappy with technological changes in F1 which have shifted the emphasis away from traditional car and engine research and design to areas such as aerodynamics.

"If Formula 1 is not any more an extreme technology competition, where the technology can be transferred to the road car, maybe we can see Formula 1 without Ferrari," he told CNN in a wide-ranging interview.

"Even if F1 without Ferrari anymore is not F1. In this case -- in a theoretical case -- we will do something else," added Di Montezemolo.

"But we will never see Ferrari without competition and sporting challenges."

Ferrari president: F1 too expensive

The 65-year-old Di Montezemolo also warned earlier this year in an interview with CNN that costs were an issue, "we are spending to much," he said.

He has not placed a time frame on any potential pull out, "it will depend on the rules" but is dismayed about rumors of electric cars being introduced into F1 because of environmental concerns.

"This is a joke because this is not Formula One," he said.

Di Montezemolo has been at the helm of Ferrari since 1991, presiding over their most successful period both in terms of racing, but also commercially, with the company reporting strong profits even in the economic downturn.

But with his business acumen, he has mixed feelings about proposals to float F1 on Asian stock markets.

"It means stability, it means mainly transparency in business, so I think this could be a good idea," he said.

"On the other hand, the importance of the teams is crucial because at the end of the day, we are the actors, we are the players, and without the players you don't have the game."

Ferrari go into the 13th round of the championship on their home track at Monza with Fernando Alonso leading the title race by 24 points, despite being caught up in the first corner carnage at Spa last Sunday.

But his number two Felipe Massa has struggled to make an impression and his future at Ferrari is in some doubt.

Di Montezemolo could give no guarantees about the team's driver line-up for next season.

"He (Massa) has to get good results, but Felipe has been and still is an important driver for Ferrari.

"We will see, but I think we have to look to the future and we need two very competitive drivers," he added.

ADVERTISEMENT
Part of complete coverage on
Track the buzz of the 2014 Formula One season, race by race, with all the latest social reaction from motorsport experts.
updated 5:58 AM EDT, Tue October 21, 2014
He's paid millions to drive one of the world's fastest cars, and he's one of F1's most colorful characters, but Kimi Raikkonen loves normality.
updated 1:45 PM EDT, Sun October 12, 2014
It took a little longer than expected but MotoGP's young star Marc Marquez wraps up his second world title in Japan.
updated 6:39 AM EDT, Thu October 9, 2014
Rising star Daniil Kvyat made history as the home hero at F1's first Russian Grand Prix, ahead of next season's move to Red Bull.
updated 9:58 AM EDT, Fri September 19, 2014
Take the fittest driver in Formula One and test him against two of the world's leading triathletes in a high-performance laboratory.
updated 12:04 PM EDT, Fri September 5, 2014
Mercedes has the fastest two cars in Formula One this season but there is just one problem -- there can only be one world champion.
He's the best of the rest -- Daniel Ricciardo has been Formula One's surprise package in the first half of the 2014 season.
updated 7:35 AM EDT, Thu July 24, 2014
Formula One is not likely to go hungry in Hungary as master chefs cater in volume for drivers, teams and VIP guests.
updated 10:43 AM EDT, Thu July 3, 2014
It's the elephant in the room of Formula One. What's the prognosis legendary driver Michael Schumacher?
updated 7:10 PM EDT, Fri May 23, 2014
It stimulates all five senses, creating an unparalleled experience for drivers and fans alike. Take a tour of Monaco with Mark Webber.
ADVERTISEMENT