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CVC must decide if it wants to sell F1 or not - Montezemolo

CVC must decide if it wants to sell F1 or not - Montezemolo

  • Published on 24 Apr 2015 08:20
  • comments 0
  • By: Rob Veenstra
Former Ferrari president Luca di Montezemolo thinks formula one needs to urgently reform. And he said the onus is on the sport's "owners" - headed by major shareholder CVC - to pull F1 from the brink of a lull that is risking its long-term future.

"The owners have to invest, they must set clear priorities, and they need to engage a management team that is fully focused on those new objectives," he said in an interview that will appear in the German monthly Manager Magazin on Friday.

Italian Montezemolo, involved in formula one for decades until he was ousted by Ferrari's new president Sergio Marchionne, said F1 needs a "clear plan for 2020". He suggested CVC needs to either commit fully to formula one, or leave.

"They must decide now: do we want to sell or not?" said Montezemolo. If they do not, "they must change their business philosophy" and finally invest in the sport. "Otherwise it could be really dangerous for formula one."

He said the priority should be to "massively" reduce costs for struggling teams, but another problem is dwindling television and trackside audiences.

Montezemolo, today the chairman of the Italian airline Alitalia, said F1 supremo Bernie Ecclestone should remain in charge. "But he needs top people and experts for finance, marketing and the digital world," he insisted.

With the country's grand prix already now gone, Montezemolo said Ecclestone should also "be careful that Germany is not lost as one of the core markets". (GMM)
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29 - Mar 2
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Bahrain International Circuit
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Saudi Arabia
Jeddah Street Circuit
22 - Mar 24
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Albert Park
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Spa-Francorchamps
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Circuit Zandvoort
30 - Sep 1
Italy
Monza
13 - Sep 15
Azerbaijan
Baku City Circuit
20 - Sep 22
Singapore
Marina Bay Street Circuit
18 - Oct 20
United States of America
Circuit of the Americas
25 - Oct 27
Mexico
Autodromo Hermanos Rodriguez
1 - Nov 3
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Interlagos
22 - Nov 24
United States of America
Las Vegas Street Circuit
29 - Dec 1
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Losail International Circuit
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Yas Marina Circuit
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Formula 1 Calendar - 2024

Date
Grand Prix & Circuit
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Bahrain Bahrain International Circuit
29 - Mar 2
Bahrain Bahrain International Circuit
7 - Mar 9
Saudi Arabia Jeddah Street Circuit
22 - Mar 24
Australia Albert Park
5 - Apr 7
Japan Circuit Suzuka
19 - Apr 21
China Shanghai International Circuit
3 - May 5
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Italy Autodromo Enzo e Dino Ferrari
24 - May 26
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19 - Jul 21
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26 - Jul 28
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23 - Aug 25
Netherlands Circuit Zandvoort
30 - Sep 1
Italy Monza
13 - Sep 15
Azerbaijan Baku City Circuit
20 - Sep 22
Singapore Marina Bay Street Circuit
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United States of America Circuit of the Americas
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Mexico Autodromo Hermanos Rodriguez
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