Ecclestone scoffs at 'emotional' Montezemolo

By on Thursday, May 19, 2011

May 19 (GMM) Bernie Ecclestone has scoffed at Ferrari's latest 'breakaway' threat.

Some days ago the famous Italian marque's president Luca di Montezemolo warned that Ferrari and the other teams could walk away from the sport's current owners CVC at the end of the 2012 Concorde Agreement.

Asked about Montezemolo's comments, F1 chief executive Ecclestone told Swiss newspaper Blick: "Oh yes, we all know Montezemolo's emotional side.

"But how often has Ferrari actually gone?" the Briton added.

Ecclestone sounded confident about the future beyond the current commercial agreement.

"Forget the Concorde Agreement," he said. "CVC bought formula one at a time when there was basically no Concorde Agreement and the manufacturers were threatening us with a rival series.

"So it was the worst possible time to buy and yet CVC paid good money. Today the risk is even lower."

It has been suggested teams want their share of F1's revenue pie to be increased from 50 per cent in the current Concorde to 70pc in 2013.

"In the last five Concorde Agreements the teams wanted more money. There is no chance they're getting 70 per cent," said Ecclestone.


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