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Ferrari entitled to option to buy $25m stake in F1

Ferrari entitled to option to buy $25m stake in F1

  • Published on 15 Sep 2014 14:42
  • comments 0
  • By: Rob Veenstra
Ferrari could become the first F1 team to actually own a stake in the sport, the Telegraph reports. F1 business journalists Christian Sylt and Caroline Reid reveal that, as a non-executive director of the sport's holding company Delta Topco, departing Ferrari president Luca di Montezemolo held an option to buy into F1 to the tune of about $25 million.

But a source close the Maranello team explained: "Ferrari, not Mr Montezemolo, is entitled to exercise the rights." The source added that "these rights are for Ferrari, and once again not ad personam for Mr Montezemolo". Montezemolo received the option in 2012 as formula one organised itself ahead of a floatation on the Singapore Stock Exchange. But the sport's majority owner CVC delayed the floatation amid the eurozone crisis in 2012 and the corruption scandal surrounding F1 supremo Bernie Ecclestone. (GMM)
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Formula 1 Calendar - 2020

Date
Grand Prix
Circuit
-
Spain
-
Spain
3 - Jul 5
Austria
Red Bull Ring
10 - Jul 12
Austria
Red Bull Ring
17 - Jul 19
Hungary
Hungaroring
31 - Aug 2
United Kingdom
Silverstone
7 - Aug 9
United Kingdom
Silverstone
14 - Aug 16
Spain
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28 - Aug 30
Belgium
Spa-Francorchamps
4 - Sep 6
Italy
Monza
11 - Sep 13
Italy
Mugello
25 - Sep 27
Russian
Sochi Autodrom
9 - Oct 11
Germany
Nurburgring
23 - Oct 25
Portugal
Autódromo Internacional do Algarve
31 - Nov 1
Italy
Autodromo Enzo e Dino Ferrari
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Turkey
Istanbul Park
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Bahrain
Bahrain International Circuit
3 - Dec 6
Bahrain
Bahrain International Circuit Outer Track layout
10 - Dec 13
United Arab Emirates
Yas Marina Circuit
See full schedule

Formula 1 Calendar - 2020

Date
Grand Prix & Circuit
-
Spain Circuit de Catalunya
-
Spain Circuit de Catalunya
3 - Jul 5
Austria Red Bull Ring
10 - Jul 12
Austria Red Bull Ring
17 - Jul 19
Hungary Hungaroring
31 - Aug 2
United Kingdom Silverstone
7 - Aug 9
United Kingdom Silverstone
14 - Aug 16
Spain Circuit de Catalunya
28 - Aug 30
Belgium Spa-Francorchamps
4 - Sep 6
Italy Monza
11 - Sep 13
Italy Mugello
25 - Sep 27
Russian Sochi Autodrom
9 - Oct 11
Germany Nurburgring
23 - Oct 25
Portugal Autódromo Internacional do Algarve
31 - Nov 1
Italy Autodromo Enzo e Dino Ferrari
13 - Nov 15
Turkey Istanbul Park
26 - Nov 29
Bahrain Bahrain International Circuit
3 - Dec 6
Bahrain Bahrain International Circuit Outer Track layout
10 - Dec 13
United Arab Emirates Yas Marina Circuit
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