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.
Dec 20, 2014, 11:42 PM EST
New York State’s Empire Racing took the three fastest spots as ARCA completed a two-day open test at Daytona International Speedway.
Dec 20, 2014, 9:11 PM EST
See NHRA great John Force like you’ve never seen him in this video, shot mainly through the eyes of his grandsons Jacob and Noah.
Dec 20, 2014, 8:16 PM EST
Dr. Dick Berggren will receive yet another prestigious honor in his career. He’ll be inducted into the Maine Motorsports Hall of Fame in April 2015.
Dec 20, 2014, 7:00 PM EST
The staff at New Hampshire Motor Speedway got into the holiday spirit, caroling with a unique NASCAR twist in a newly-released video.
Dec 20, 2014, 6:29 PM EST
Matt Henderson, Henderson Motorsports, and local businesses deliver presents and gifts to family in La Crosse, Wisconsin.
Dec 20, 2014, 5:29 PM EST
Times Square’s ‘ball drop’ will have nothing on Indianapolis as it lowers an Indy Car as the final seconds of 2014 tick off.
Dec 20, 2014, 4:30 PM EST
Michael Tatoian has been able to help bring additional events to the Monster Mile beyond its two NASCAR weekends.
Dec 20, 2014, 4:00 PM EST
Carl Edwards was the most sought-after Sprint Cup free agent in 2014. After more than a decade with Roush Fenway Racing, Edwards announced he will be driving for Joe Gibbs Racing in 2015.
Dec 20, 2014, 3:35 PM EST
Red Bull Straight Rhythm is a one-of-a-kind event, featuring an “unwound” supercross track and head-to-head racing. Tune in to NBC to see how it all played out.
Dec 20, 2014, 2:00 PM EST
BayernLB sues Ecclestone and his family holding for 345 million Euros.
Dec 20, 2014, 1:00 PM EST
Dillon made a big first impression and then quietly learned the ropes in Sprint Cup.
Dec 20, 2014, 12:00 PM EST
Clint Bowyer endured the worst season of his Sprint Cup career in 2014. He hasn’t won a race since 2012, but 2015 could be a comeback year for him.
Dec 20, 2014, 11:40 AM EST
Can’t say these sweaters aren’t memorable.
Dec 19, 2014, 9:45 PM EST
Daughter of legendary Funny Car champ John Force, Brittany Force is out to prove that 2015 will be her year in NHRA Top Fuel racing.
Dec 19, 2014, 6:55 PM EST
Michael Schumacher’s son, Mick Jr., spent a recent testing day in a Formula 4 car, a possible prelude to following in his famous father’s footsteps.
Dec 19, 2014, 4:30 PM EST
Edwards’ Arris car won’t be hard to find in a pack next year.
Dec 19, 2014, 4:00 PM EST
Rare, intriguing call for CGR to put two lesser-experienced drivers in No. 01 car.
Dec 19, 2014, 3:00 PM EST
Williams’ stellar 2014 season, recapped in pictures and words.
Dec 19, 2014, 2:15 PM EST
Ryan Newman and Matt Kenseth proved that consistency still pays.
Dec 19, 2014, 1:49 PM EST
The fan-favorite Sprint Experience at NASCAR tracks across the country is apparently no longer, according to a media report.
Video from NASCAR America
- John Force like you’ve never seen him: ‘Papa John’ the grandfather (video) 0
- Michael Schumacher’s son, Mick Jr., has ‘secret’ F4 test 3
- Report: The Sprint Experience will not return in 2015 4
- Vergne joins Ferrari as a test driver 1
- IndyCar champ Will Power’s hidden talent — breakdancing 0
- NASCAR: Bubba Wallace confirmed for Roush Fenway XFINITY program 2
- Top NASCAR stories of 2014: No. 13 – Chase Elliott wins final Nationwide Series championship at record age 0