Ferrari gives more details about its GPWC membership

Following the recent announcement about the renewal of the Concorde Agreement between Ferrari, FOM and FIA, Ferrari has draw a certain amount of criticism. This has caused the company to respond with a comment.

"Back in the end of July 2004, Ferrari had informed in writing the other members of the GPWC that, as from August 1 of that same year, it would not be bound exclusively to the GPWC, while nevertheless remaining part of it. It intended

examining the possibility of an agreement with the FIA and FOM regarding the long term future of the FIA Formula 1 World Championship."

This is most illuminating but fails to explain why it was that on September 11 Luca di Montzemolo attacked Bernie Ecclestone saying that "a certain era is finished and we have to look at something new which is totally acceptable to the players who at the moment get only 47% of the money from the TV rights and nothing from the tickets, advertising and other sources of income. It is not possible any more. We said these things three years ago but unfortunately somebody has not understood. Ferrari is a small company and we have to be very careful about the future. We are in favour of a strong political authority in the FIA and in favour of a company taking 20% to promote the sport but we want 80% for the teams. Unfortunately it has not been possible to find a solution. Now is the time to find a solution or we have to think carefully about the future. There is a big risk to lose teams and I don't see any real determination to find solutions. It is not possible for teams to survive with what is an unacceptably low level of revenues."

When asked, Montezemolo said that Ferrari was "100% behind" the GPWC.

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