Ecclestone interested in Ferrari

Bernie Ecclestone would be interested in buying the famed Ferrari company providing the price was right. Industrial giant Fiat owns a ninety percent stake in Ferrari but sold 34% in June in an effort to reduce financial problems. It's possible...

Bernie Ecclestone would be interested in buying the famed Ferrari company providing the price was right. Industrial giant Fiat owns a ninety percent stake in Ferrari but sold 34% in June in an effort to reduce financial problems. It's possible that Fiat may have to sell the remaining shares as the struggling company tries to meet its creditor banks' demands.

"It would depend on how the company was structured," Ecclestone told the Italian media. "The brand is strong yet Ferrari spends much of its profit from car sales on motor racing. If it didn't do that, would they (the cars) sell?"

Ecclestone also said he would not be interested in being a shareholder, only in owning Ferrari: "I don't know if I want to buy shares," he remarked, "But for sure I'd be interested in buying Ferrari if the price was right."

Fiat sold the 34% stake to Mediobanca, an Italian investment bank, which reportedly did not make Ferrari president Luca di Montezemlo very happy. He has since talked of retiring from the company: if Fiat do sell the remaining stake -- and with Michael Schumacher and other key members of the F1 squad coming to the end of their current contracts at the end of 2004 -- it could be a very different Ferrari team in the future.

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About this article
Series Formula 1
Drivers Michael Schumacher , Bernie Ecclestone
Teams Ferrari