Apr 1, 2013, 11:11 AM EST
Formula One’s technical rules cannot be changed without the approval of Ferrari, a new report has confirmed.
Rumours that Ferrari have the power to directly influence F1’s rules have persisted for several years.
A document drawn up in anticipation of F1’s potential flotation on the Singapore stock exchange reveals the extent of Ferrari’s power within the sport.
“In respect of Ferrari only, Ferrari may terminate if the regulatory safeguards agreed between the FIA and Ferrari do not allow Ferrari to veto any change to the regulations already announced or introduced (subject to certain exceptions),” says the prospectus, as reported by ESPN.
Ferrari’s power of veto is believed to have been first offered to them in 2005. Whether it has used or threatened to use the veto remains unclear.
However Luca di Montezemolo, the president of the Italian car manufacturer, has repeatedly criticized the F1 rules for being too focused on aerodynamics and restricting teams’ opportunities to test.
A major change in the technical rules for next season will introduced new V6 engines with greater use of modern energy recovery technologies.
The document also confirmed Montezemolo has been offered a 0.25% stake in the sport if it is floated. Ferrari also receives an additional bonus payment for competing in Formula One.
Feb 27, 2015, 7:00 PM EST
IndyCar drivers hit several race markets for “Focus” premieres.
Feb 27, 2015, 5:00 PM EST
How well does Josef Newgarden dunk? Find out in video he does with Indiana Pacers “Power Pack.”
Feb 27, 2015, 4:30 PM EST
French driver set for a fourth season in GP2 this year with Lazarus.
Feb 27, 2015, 4:00 PM EST
One of California’s more prestigious racing awards has its nominees revealed.
Feb 27, 2015, 3:00 PM EST
Indy Honor Flight event to be held at CGR shop in Indianapolis on Saturday.
Feb 27, 2015, 2:30 PM EST
Massa says that the main thing is that Alonso is okay and unhurt following his hefty crash in testing last week.
Feb 27, 2015, 2:00 PM EST
17-year-old has just one day of testing left before making his F1 debut in Australia.
Feb 27, 2015, 1:30 PM EST
Champions emerge on in a cold finale to 2015 Cooper Tires Winterfest.
Feb 27, 2015, 1:15 PM EST
First run for the VJM08 was “remarkable”, but there is still plenty to be caught up with at Force India.
Feb 27, 2015, 1:00 PM EST
German driver not happy with the setup on his W06 Hybrid despite posting the fastest time of winter testing so far in Barcelona.
Feb 27, 2015, 12:01 PM EST
The German team finally goes quickest in testing, sending a statement of intent out to the rest of the field.
Feb 27, 2015, 11:00 AM EST
F1 Commission agrees on changes for 2016 season in a bid to help aid investigations into accidents.
Feb 27, 2015, 9:32 AM EST
American driver secures a seat in GP2 after a turbulent 2014 campaign.
Feb 27, 2015, 9:17 AM EST
FIA confirms that Manor Marussia does have a place on the grid in 2015, relying it complies with the new technical regulations.
Feb 27, 2015, 9:00 AM EST
26 days after the rest of the F1 field, Force India gets its 2015 car out on track for the first time.
Feb 27, 2015, 7:41 AM EST
Spaniard posts a video on YouTube giving an update on his condition.
Feb 26, 2015, 3:00 PM EST
Brazilian driver still believes that Mercedes has the best car in F1 this year.
Feb 26, 2015, 2:00 PM EST
Briton still manages to finish third on Thursday, but is limited to just 48 laps following the power unit issue.
- Barcelona F1 2nd Test Paddock Notebook – Friday 0
- Rosberg quickest as Mercedes shows its hand on day two 0
- Alexander Rossi confirms return to GP2 in 2015 with Racing Engineering 2
- FIA issues updated F1 entry list including “Manor Marussia” 3
- Fernando Alonso thanks fans for support following crash 0
- Barcelona F1 2nd Test Paddock Notebook – Thursday 0
- Massa fastest for Williams as final F1 pre-season test begins 5