Sergio-Marchionne-Bernie-Ecclestone
Ferrari Chairman Defend’s Vetoing Cost-Cap Initiative
Formula One
Formula One is forever undertaking cost cutting measures. However whenever new rules are introduced it usually signals a new round of spending. The best funded teams are able spend their way to the top of the grid while poorly backed teams scrimp, scrape and dissappear. Formula one teams come and go, that much is known it is the nature of the F1 beast. However the established teams such as Ferrari have a never ending supply chain of sponsorship funds and is an example of one such team with the ability to spend its way out of trouble. That is why Sergio Marchionne, the Ferrari Chairman, vetoed another measure by the FIA to introduce yet another cost cutting exercise. Marchionne blasted the initiative as being “an obscene concept”. Marchionne was quoted as saying in a recent interview: “Todt tells us: ‘You will gain by supplying client teams’ and then complained about Ferrari’s veto on the “political” retail price fixed on the engines”. Marchionne was particularly vexed at Todt’s suggestion that well funded teams like Ferrari not only supply teams with a customer engine but also cover the costs. Marchionne labeled Todt’s suggestion as a “financial commitment and burden to fund other teams… I consider to be… outside any economic and industrial logic.”  Sergio-Marchionne-Bernie-Ecclestone
Share via
Copy link
Powered by Social Snap