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2018-08-02 13:04


Ferrari's new CEO says talks about the future with Liberty Media are progressing.

Louis Camilleri has replaced Sergio Marchionne, who died last week of cancer.

'Talks are ongoing'

Marchionne is believed to have been locked in complex talks with Formula 1 owner Liberty Media, after threatening to quit the sport over the commercial arrangements beyond 2020.

READ: Sergio Marchionne, the 'visionary' who reignited Ferrari's F1 dreams

"There are ongoing talks with Liberty Media. I think there has been progress on the technical side, but less on the budget cap and governance.

I'm not sure about new ideas, the goal is to divide the cake as it is. We do not talk about how to increase it. I am sure I can bring my contribution," Camilleri is quoted by La Gazzetta dello Sport.

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