From www.itv-f1.com
FERRARI MAKE F1 QUIT THREAT
Last Updated: Monday, 13, September, 2004, 13:26
Click to enlarge
Ferrari president Luca di Montezemolo has warned the world champions could quit F1 unless they are given a bigger share of the sport’s revenues.
Montezemolo is furious that Bernie Ecclestone still pockets more money from the sport than the rest of the teams combined.
The Italian said that, even though shares in F1’s commercial rights have changed hands repeatedly over the past few years, the teams are no closer to receiving any more money.
He told autosport.com: "I think that a certain era of F1 is finished. We have to look at something new and it is totally impossible, and unacceptable, that the business has been sold three times in three years and without any advantage for the players.
"The teams get only 47 per cent of the television rights, which is less than 50 per cent, and zero from advertising, ticket revenues and hospitality. This is not possible any more and it means unfortunately that someone has gone too far.
"I am worried that some teams cannot survive for money reasons. Ferrari is a small company and we have to think very carefully for the future.
"It is not possible to survive even for teams like Ferrari with this unacceptable low level of revenues.
“We have to try and give the maximum support to change the situation with the other car manufacturers."
This is not a new concern – many of the carmakers involved in F1 formed the GPWC, a breakaway championship, several years ago in a bid to force Ecclestone’s hand.
But while things have gone quiet in recent months, Montezemolo’s outburst proves that the manufacturers are as determined as ever to get their way.
The costs of competing in F1 have risen dramatically even since the formation of the GPWC.
Montezemolo believes that Ecclestone must act immediately because teams cannot afford to wait until the current Concorde Agreement expires at the end of 2007.
He said: "I think that in life if somebody doesn't think of the future, and only to put money in their pockets today, we take a big risk for the future because I don't think F1 can survive in these conditions.
"Thank God at the end of 2007 we have something, but we still have three years in front of us and everything must change. We will see.
“Now is the time to try and find a solution and, if not, then everybody starting with Ferrari will think what we will do. The level of the revenue for the teams is unacceptable and ridiculous."