Porsche Panamera crowned 2018 SA Car of the Year

Porsche's Panamera has been crowned the 2018 South African Car of the Year. Do you agree with the winner?

Readers vote for their 2018 SA Car of the Year

The 2018 SA Car of the Year has been revealed. Check out how the cream of South Africa's motoring crop fared in our annual Readers' poll!

Ferrari considering buying into F1 - report

2017-02-03 12:51

FORMULA FERRARI: Ferrari is looking into buying shares in Formula 1. Image: AP / Uli Deck

Italy - Ferrari could be the first Formula 1 team to take up Liberty Media's offer of shares in the sport.

We have reported that despite Liberty's eagerness for the teams to take up to 20 per cent of the commercial rights, none have accepted the offer so far mainly because it would not include the power to vote.

F1 shares a possibility

But Ferrari president Sergio Marchionne is now quoted by the Italian media as revealing that the Maranello marque is "considering the opportunity to take shares" in F1.

Marchionne revealed: "We will discuss it with the new owners.”

READ: Liberty approves F1 acquisition plan

Marchionne said a major consideration in his deliberations will be the future of the sport beyond the current contracts that stretches to 2020.

He added: "It is not a financial issue. It would be unwise to invest without having clarity about what will happen after 2020 and what Ferrari could get from its investment in F1. Once we have this clarity, I think it will be much easier to decide if we want to participate in this venture."

But he does at least sound upbeat about the post-Bernie Ecclestone future.

Marchionne said: "I expect that the sport in general will do better, because Liberty and Chase Carey know the entertainment world and know very well how to make F1 even more popular. The Scuderia will do its part in this.”

Read more on:    ferrari  |  sergio marchionne  |  italy  |  motorsport  |  racing  |  f1

There are new stories on the homepage. Click here to see them.