Latest Agnelli death casts shadow on Ferrari.

Ferrari's latest quest for success, in this weekend's European Grand Prix, will take place under a cloud following the death of Fiat chairman Umberto Agnelli, who has succumbed to cancer at the age of 69.

Agnelli passed away at the family home in Turin just three weeks after revealing that he had a cancer of the lymph nodes, and now leaves the future of Ferrari parent company in new hands following the end of the Agnelli family line. His death follows that of brother Gianni, also from cancer, in 2003, and those of son Giovannino, again from cancer, in 1997, and Gianni's son Edoardo, who committed suicide in 2000.

Umberto had assumed control of the Fiat group when his older brother dies in January, but his own passing means more attention will be focused on the conglomerate's future - and particularly on those of the various car marques - including Ferrari, Maserati and Alfa Romeo - which could now end up being sold off. Fiat is still striving to secure its financial future - and has already sold off insurance and aviation arms to focus on the car and truck industry - while various banks hold the option of swapping loans for equity and seizing control.

"It's the end of an era, but I don't think this will have any impact on Fiat," Italian deputy finance minister Mario Baldassarri told Reuters, "However, the passing of Gianni and Umberto means that, for the first time in over a century, there is no longer a central point of reference."

Although not directly controlling the F1 operations, Agnelli's death was also remarked upon by team members at the Nurburgring.

"I was shocked this morning to hear of the death," Michael Schumacher admitted, "Our thoughts are with his family, especially his son Andrea. I have so many memories of Mr Agnelli, who always supported us, and with whom I spent many happy times."

"This is no ordinary day, as this tragedy has touched us deeply," team boss Jean Todt agreed, "This morning, the whole team got together to ensure we could focus on doing the best job possible, but naturally our thoughts were with the Agnelli family."

Umberto Agnelli's funeral will take place on Saturday afternoon.