War is declared between Ecclestone and di Montezemolo

The grand financier of Formula 1, Bernie Ecclestone, responded to the words of Ferrari president Luca di Montezemolo on the thorny issue of the revenues that the sport generates.

The Italian, who is also president of the Formula 1 Teams Association (FOTA), stated in several media outlets that the time has come for Ecclestone to relinquish both the money and control of F1 in favor of the teams.

To find out Luca di Montezemolo’s statements, click on the following link: A page turns in F1 for di Montezemolo

But Ecclestone was irritated by these remarks and thinks that di Montezemolo is not in a position to criticize him after the financial arrangements from which Ferrari benefited in F1.

« The only thing he didn’t mention when talking about money is that Ferrari ranked above all other teams in terms of extras, and this has been the case for years, » communicated the Briton in the columns of the Times.

Ferrari received a lot more money than everyone else. The Scuderia knows exactly what it’s doing, nobody is stupid.

He added: « Ferrari should share with all Formula 1 teams the additional funds it receives rather than asking for money. »

Ecclestone also responded to di Montezemolo’s suggestions, stating that the teams should receive full details on how the money is distributed in the sport.

« They have the right to send people within the organization to conduct the requested investigations, » said Ecclestone, referring to a clause in the Concorde Agreement that allows for a full review of the sport’s accounts.

Finally, in response Ferrari commented: « We have nothing to say about Mr. Ecclestone’s remarks that were published in The Times. However, the issue of revenue is of the utmost importance in F1 in these times of financial crisis, » stated the Ferrari spokesperson.