Ferrari braces for ‘long, complicated’ talks with Liberty over F1 future

Ferrari team principal Maurizio Arrivabene says the Italian manufacturer is open and willing to negotiate its current deal in Formula 1 with new owners Liberty Media as a quit threat overhangs the squad.

President Sergio Marchionne issued a threat to withdraw Ferrari from F1 following the release of the potential engine blueprint for the 2021 regulation changes, as well as its financial distribution share which would be potentially altered in a new deal with Liberty.

Speaking before Marchionne’s quit statement at the Mexican Grand Prix, Arrivabene says Ferrari is keen to discuss its future financial package with Liberty but doesn’t expect any quick fixes.

Ferrari received the biggest payout of any F1 team in 2017 despite finishing third in last year’s world constructors’ championship, a figure boosted by an estimated $60-70million payment as a ‘long-standing team’ as the only squad to contest every F1 season in history.

“At the moment we have a contract with the commercial owner of Formula One and it’s quite clear on how we have the distribution, the financial distribution in the future,” Arrivabene said. “It’s something that we need to discuss.

“Distribution also means commitment to Formula One. The first thing is to commit to do this sport and to do it well and not to come in for one or two years and then disappear and close the factory.

“This is not what we have done because since the beginning we have been here and we would like to continue to be here. The discussion is going to be long and complicated.”

Arrivabene also laced a small dig at Liberty and the FIA by insisting it is they who run the sport rather than Ferrari after the Italian manufacturer had been accused of wielding too much power in F1 with a potential veto against rule changes.

“Our job is to build cars and to manufacture the engine,” he said. “Their job is to run the business so we don’t have to mix this up otherwise it’s going to be a nightmare.”