Ferrari’s Board of Directors met yesterday to discuss financial, and motorsport committments. Third quarter results revealed a 22% increase year-on-year, amounting to a revenue of 450 million euros (AU$900 million).
Trading profit was 79 million euros (AU$157 million). But that’s not the big news. Yes, the bombshell was dropped, in the form of a possible withdrawal from Formula 1 racing. How so?
Based on the current economic climate with the proposed introduction of standardised powerplants, Ferrari has said that it would have to consider its future in the sport. It says that the entire reason for the sport’s existence is pushing the envelope with “competition and technological development”.
Ferrari’s concerns over standardised engines is so strong that, “the Board of Directors expressed the opinion that should these key elements be diminished, it would have to re-evaluate, with its partners, the viability of continuing its presence in the sport.”
What do you think Formula 1 would be like without Ferrari? Or is this just sour grapes?