user icon

Di Montezemolo secures 27 million parting fee from Ferrari

  • Published on 11 Sep 2014 12:10
  • comments 0
  • By: Rob Veenstra
Despite securing $35 million as he walks away, Luca di Montezemolo had a tear in his eye on Wednesday as he said farewell to Ferrari. Although he was president, and although his presence at Maranello dates back decades, the 67-year-old is just the latest head to roll amid Ferrari's spiralling crisis. "Our common desire to see Ferrari express its true potential on the track led us to some misunderstandings," admitted Fiat chairman Sergio Marchionne, Montezemolo's successor.

Charismatic and controversial, Montezemolo has secured a EUR 27 million parting fee, including a pledge he will not work for a Fiat rival until 2017. He admitted on Wednesday that it is possible he will go on to run the Italian airline Alitalia. In his wake, he leaves the Ferrari team run by a F1 newcomer, Marco Mattiacci, and a lead driver in Fernando Alonso who in the space of a single day lost not only Montezemolo but also another crucial ally, the late Emilio Botin.

But Montezemolo and Marchionne on Wednesday singled out Ferrari's turbo V6 engine as the biggest problem to solve. "It is absolutely clear that we have an engine problem," said Marchionne. Montezemolo concurred: "We underestimated the importance of the new engine system."

But with McLaren calling loudly, might this week's alarming news be the final straw for an increasingly frustrated Alonso? "He has been very loyal to Ferrari, staying through the difficult times," rival Daniel Ricciardo told Austrian Servus TV this week. "This is obviously a decision that Fernando has to make himself, but he has been very patient with them," he added.

Toni Vilander, however, a close friend of Alonso's current teammate Kimi Raikkonen, thinks Wednesday's news would not have been a shock to the red-clad pair. "I believe they were aware of the issue for some time," he told the Finnish broadcaster MTV3. "I don't think it's going to affect their situation an awful lot."

But others see Ferrari's spiralling situation as endemic of the current regime at Maranello. "I believe that the structure that they had in the past with Jean Todt, Ross Brawn, Rory Byrne, Nigel Stepney and the rest of them is very, very different to what we see now," said Caterham team advisor Colin Kolles.

Montezemolo's exit is another big blow, F1 supremo Bernie Ecclestone admitted. "His leaving is for me the same as Mr Enzo (Ferrari) dying," he said. "He has become Ferrari. You see him, you see Ferrari."

Former FIA president Max Mosley, however, never quite saw eye-to-eye with Montezemolo, and he thinks Wednesday might now be a turning point for the fabled team. "In truth, Ferrari have never been quite the same since Jean left," he told Reuters. "If they want to win races again they need to find another outstanding manager."

One thing, however, was left undoubtedly clear on Wednesday -- Ferrari itself is going nowhere. "Montezemolo explained to me that we are bound by contracts with Ecclestone to stay in F1 at least until 2020," Marchionne told Italian reporters, "but for me it should be much longer. If it was up to me it would be 120 years." (GMM)

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

World Championship standings 2022

Show full world champion standings

Test calendar

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

Driver profile

  • Team Alpine F1
  • Points 296
  • Podiums 1
  • Grand Prix 122
  • Country ES
  • Date of b. Jul 29 1981 (41)
  • Place of b. Oviedo, ES
  • Weight 68 kg
  • Length 1.71 m
Show full profile

Team profile

Show full profile

Formula 1 Calendar - 2022

Date
Grand Prix
Circuit
-
Spain
-
Bahrain
18 - Mar 20
Bahrain
25 - Mar 27
Saudi Arabia
8 - Apr 10
Australia
22 - Apr 24
Italy
6 - May 8
United States of America
20 - May 22
Spain
27 - May 29
Monaco
10 - Jun 12
Azerbaijan
17 - Jun 19
Canada
1 - Jul 3
United Kingdom
8 - Jul 10
Austria
22 - Jul 24
France
29 - Jul 31
Hungary
26 - Aug 28
Belgium
2 - Sep 4
Netherlands
9 - Sep 11
Italy
30 - Oct 2
Singapore
7 - Oct 9
Japan
21 - Oct 23
United States of America
28 - Oct 30
Mexico
11 - Nov 13
Brazil
18 - Nov 20
United Arab Emirates
See full schedule

Formula 1 Calendar - 2022

Date
Grand Prix & Circuit
18 - Mar 20
25 - Mar 27
Saudi Arabia Jeddah Street Circuit
8 - Apr 10
Australia Albert Park
22 - Apr 24
6 - May 8
United States of America Miami International Autodrome
20 - May 22
27 - May 29
Monaco Monte Carlo
10 - Jun 12
Azerbaijan Baku City Circuit
17 - Jun 19
1 - Jul 3
United Kingdom Silverstone
8 - Jul 10
Austria Red Bull Ring
22 - Jul 24
France Paul Ricard
29 - Jul 31
Hungary Hungaroring
26 - Aug 28
2 - Sep 4
Netherlands Circuit Zandvoort
9 - Sep 11
Italy Monza
30 - Oct 2
7 - Oct 9
21 - Oct 23
United States of America Circuit of the Americas
28 - Oct 30
11 - Nov 13
Brazil Interlagos
18 - Nov 20
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar