The Times says that Luca Di Montezemolo, president of Ferrari, whose team took first and second places yesterday, believes it was a mistake for Bernie Ecclestone to sell 75 per cent of the shares in the sport to banks.
“Such an expensive sport cannot survive if we do not increase revenues. A certain era is finished and we have to look at something which is totally acceptable to the players who, at the moment, get only 47 per cent of the money from television rights and nothing from ticketing, advertising and other sources. We said these things three years ago but, unfortunately, somebody has not understood. Ferrari can continue to race in Formula One only if the level of cost is acceptable compared to the total turnover of the company.”
