Ferrari could become the first F1 team to actually own a stake in the sport, the Telegraph reports.<\/p>\n
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 held an option to buy into F1 to the tune of about $25 million.<\/p>\n
But a source close the Maranello team explained: “Ferrari, not Mr Montezemolo, is entitled to exercise the rights.”<\/p>\n
The source added that “these rights are for Ferrari, and once again not ad personam for Mr Montezemolo”.<\/p>\n
Montezemolo received the option in 2012 as formula one organised itself ahead of a floatation on the Singapore Stock Exchange.<\/p>\n
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.<\/p>\n
\u00a9 RIF | GMM<\/p>\n","protected":false},"excerpt":{"rendered":"
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 held an option to buy into F1 to the tune of about $25 …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[3,1],"tags":[59,5262,93,5340,148],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/24820"}],"collection":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/comments?post=24820"}],"version-history":[{"count":1,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/24820\/revisions"}],"predecessor-version":[{"id":24821,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/24820\/revisions\/24821"}],"wp:attachment":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/media?parent=24820"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/categories?post=24820"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/tags?post=24820"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}