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Luca di Montezemolo says F1 needs to plan post-Ecclestone

Luca di Montezemolo urges F1 teams to prepare for life after Bernie Ecclestone
Ferrari president Luca di Montezemolo has called on F1 teams to start planning for a future without Bernie Ecclestone at the head of the sport.

While Ecclestone remains in charge of F1, the 83-year-old is currently embroiled in a series of legal battles linked to allegations of bribery over the deal that saw CVC secure control of the sport, with Ecclestone having always denied any wrong doing.

Should Ecclestone be forced to stand down, or indeed when he elects to retire himself, there is currently no-one lined up as his replacement and di Montezemolo said it was important that teams looked at the options available when the time comes.

"We are arriving a little bit at the end of a very, very important cycle and era of Formula One," he was quoted by Reuters. "While Bernie is here, Bernie knows and Bernie is intelligent. Sometimes he is too conservative but he's Bernie.

"We have to discuss, because at the end of the day this is our business. I think that after Bernie, who is unique, it's necessary to approach a different governance for the sport.

"I will never accept that instead of Bernie we find a one man show...We have to create a group of governance in which you have a CEO, and then you have one in charge of motor racing."

Di Montezemolo added that it was important for the competing teams to take a long-term view over the future of the sport, with the possible that CVC would one day elect to cash in on its investment.

"I am in favour of doing a company fully owned by the teams...but this will be in the future,” he said. “Today we have a contract with CVC until 2020. This is the reason why I want, in the interests of Formula One, to be more close with the teams...we have to discuss about the future of Formula One, Formula One is my life.

"I think CVC is good for today but I don't think the future of Formula One will be with CVC because they want sooner or later to sell. CVC is an investment fund and Bernie is the only one inside that group that has credibility, knowhow, experience, time totally dedicated to Formula One. The other people, they don't know anything.

"I think that now all of us have to have a clear idea of the future."

Related Pictures

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14.11.2013- Bernie Ecclestone (GBR), President and CEO of Formula One Management  and his wife Fabiana Flosi (BRA), Wife of Bernie Ecclestone
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December 21, 2013 11:31 AM

Wow! Twice in two days I agree totally with Luca. Let's face it. Bernie built the business, professionalized it, but the leadership model of a singular and aging figure in charge of the totality of the various licensing agreements is ridiculous, and very risky. If the teams owned and operated F1 through a professional but arm's length management company most of the money begin pumped into the so called shareholders group would be freed up for distribution amongst teams and disbursement to other FIA ventures and responsibilities. the teams better get moving because I think Bernie is possible going to jail or at least be forced to step down. Regardless, I do not see him managing F1 in five years time regardless of the outcome of the court proceedings.


December 21, 2013 3:24 PM

Really what F1 needs (& MotoGP & WSB for that matter) is ownership by a not-for-profit organisation whose brief is to promote & support racing, ploughing back funds rather than money constantly being siphoned off for greedy shareholders. Then we might actually start to see events where the quality of the racing and the entertainment of the fans becomes paramount. Then we might see races located where the fan base is considerable and long-standing rather than rich Arabs or Asians 'buying' a race as a status symbol and virtually nobody going to watch. Then we might see ticket prices come down to reasonable levels which mere mortals might actually be able to afford. Dream on Larry!!!

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