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FERRARI DENIES 'BOUGHT' CLAIM

2005-01-20 13:19

The 2008-2012 Concorde, if the rest sign up, will cost Bernie, 74, about $500-million in extra payments to teams.

"This is not just about money," the Ferrari man told UK's The Guardian. "(It's) about securing Ferrari's future (in F1) without the team being a drain on the ... company."

Asked about GPWC, the carmakers' alliance, Ferrari said the group had 'served its function' by securing a better commercial deal for everyone.

Ecclestone, meanwhile, insisted that other teams were 'relieved' when they heard the bombshell, and a GPWC spokesman admitted the group had not expected it.

Minardi's Paul Stoddart, on the other hand, admitted that the agreement signalled an end to the plan to start a rival world championship, but not GPWC. -GMM

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