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Ferrari denies speculations about quitting Formula One

Snapshot: Ferrari chief Luca di Montezemolo writes to F1 boss Bernie Ecclestone asking for a crisis meeting to discuss the future direction of the sport.

A few days back, a report carried by The Wall Street Journal suggested that the Italian marquee Ferrari could turn its back on F1 and turn its attention to an expanded sportscar programme. Ferrari president Luca di Montezemolo was quoted saying, “Formula 1 isn’t working. It’s declining because the FIA has forgotten that people watch the racing for the excitement. Nobody watches racing for the efficiency, come on. People watch racing to be entertained. No one wants to watch a driver save gas or tyres. They want to see them push from here to there. It’s sport, yet, but also a show.”

Scuderia Ferrari has now released a statement rejecting the aforementioned speculations about the team’s future in Formula One, saying that they have ben misconstrued and misunderstood. The official statement released by the brand reads, “Some elements of the media have suggested Ferrari would quit Formula 1 to concentrate on the Le Mans 24 Hours and Endurance racing. This is a bit of a stretch based on president Luca di Montezemolo reiterating that Formula One needs to evolve and renew itself, while also admitting that there is a unique attraction to the 24 Hour race.” 

“To say that after 2020, Ferrari would quit Formula One to concentrate on Le Mans and the Endurance championship takes his words to extremes. Plus of course, there’s nothing to stop Ferrari upping the ante and competing in both disciplines. So, it’s just pure speculation.” the official release stated. 

Furthermore, it is reported that Montezemolo has now written to F1 boss Bernie Ecclestone and the majority shareholder CVC calling for a crisis meeting as he fears that the sport is losing its fans and sponsors. In the letter, the Ferrari chief also maintained that the sport has failed to embrace the interests of the younger generation of fans, which will slowly lead to its downfall and that instead, of criticising the areas where F1 is failing, he would love to have a meeting to iron out the faults and look towards a path of recovery. 

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