DECEMBER 17, 2010
Ecclestone unperturbed by Montezemolo
Formula 1 commercial supremo Bernie Ecclestone has been dismissive of sabre rattling from Ferrari president Luca di Montezemolo saying that the teams require a better deal in the next F1 Concorde Agreement or else could run their own series.
The threat is hardly a new one and Ecclestone responded: "It's what he says every time he goes to Monza each year," he said. 'We need more money'. It's all nonsense. They're not going to break away. They've tried it all before. Luca's a lovely guy but he likes to say these things and then he forgets what he is saying."
Montezemolo had outlined that staying with the current commercial rights holder, CVC Capital Partners, was one option, but only if Ecclestone, 80, remains in control.
"The presence of the rule of Bernie is a priority because F1 cannot be ruled by the Stock Exchange," Montezemolo said. "We need people with credibility, personality and experience. But in the end we can always find a different promoter. At the end of the day this business is not so complicated."
Despite previous threats, most notably in 2008, running their own series is something the teams have never attempted and Ecclestone has always scoffed at their stomach for taking on the challenge.