Ferrari boss wants lower costs in F1

Tue, 2 January 2007, 03:25

Luca di Montezemolo has vowed to campaign for lower running costs in formula one.

The Ferrari president expressed concern that necessary budgets at the pinnacle of motor sport have spiralled out of control over the course of the last decade.

“Formula one must find a way to reduce the expenditures,” Italian Montezemolo is quoted as saying by the newspaper Corriere della Sera.

“That is the crucial challenge for the future of this sport.”

He said his goal is to turn F1 into a “source of income” within the next “three to five years” for Maranello based Ferrari, which has not won a world championship since 2004.

Corriere della Sera claimed that Ferrari spent in excess of $330m on formula one in 2006.


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