Ferrari president Luca di Montezemolo has called for a meeting between the key players in F1 to discuss the sport's future, believing it has taken a "wrong turn".

Montezemolo has written a letter to Bernie Ecclestone - the commercial rights holder - as well as CVC chairman Donald McKenzie, because he wants to see new ideas and new involvement within the sport.

"It is not an ultimatum, nor a threat, but a proposal to call together all the key players in the sport to sit down around a table and come up with new ideas that will see Formula 1 continue to set the benchmark in motorsport, on level terms with global events such as the Olympics and the football World Cup," the article on the Ferrari website read.

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"The President wants to see a collective brainstorming from the group to act for the good of Formula 1. Contributions from all areas are of value; teams, sponsors, promoters and media, so that the key values of Formula 1 can be re-established. President Montezemolo would also like to see other high-end players invited, those who are currently not involved or only partially so; new media, social networks and colossi such as Google and Apple."

And Ferrari believes F1 is currently lacking the right combination of factors to be attractive to both sponsors and fans.

"Formula 1 has to be based on technical innovation, research and development, but this must all be done with sustainable costs and above all, must be moved forward as part of a product that can put on a show. Because it is the show that draws in the commercial partners, the sponsors and, above all, the fans, who are the real end users of the Formula 1 product.

"Finding the right mix of these ingredients will be vital for the sustainability and the future success of our much-loved sport."