Ferrari could be looking for yet another new president in a few years time.
Tag Archive: Bloomberg
Force India has lashed out at F1’s owner CVC, accusing the private equity firm of not being interested in developing the sport.
The financial news agency Bloomberg quoted deputy team boss Bob Fernley as saying new deals that give more money and power to the bigger teams are a “disaster”. “CVC is not interested in developing the sport, it’s interested in making as much money as possible and then selling it,” he said.
One of the unnamed sources said the new CVC agreement will benefit the FIA to the tune of about $25 million.
The FIA is close to completing a successful push for a bigger slice of F1’s financial pie, according to a report by the expert financial source Bloomberg. Citing ‘two people familiar with the situation’, the media report said the now Jean Todt-led Paris federation is set to boost its coffers to about $40 million per year.