F1: Montezemolo Sends Out Costs Warning

Formula 1

F1: Montezemolo Sends Out Costs Warning

Ferrari president Luca Di Montezemolo says Formula One must be mindful of costs as the sport settles on a new Concorde Agreement...

Adam Cooper | http://www.speedtv.com | Posted June 12, 2012 Balen (BEL)

Luca di Montezemolo says Formula One must control costs as it looks to the future. (Photo: Getty Images)

Luca di Montezemolo has sent out a message about the importance of controlling costs as discussions about the Concorde Agreement and the future of the sport are ramped up.

The Ferrari president made the comments on his company’s website Tuesday.

“The world economic situation and that of Europe, in particular, is very serious and the world of Formula One cannot ignore the fact,” he was quoted as saying. “We cannot lose any more time – we need to tackle urgently and with determination the question of costs. Ferrari is in agreement with the FIA’s position that drastic intervention is required. We are absolutely convinced that, as I have always said, the teams and the commercial rights holder must work together with the Federation on this front.

“This is no longer the moment for getting bogged down in sterile discussions or the meanderings of engineers, usually only concerned in defending the interests of someone or other. The question has to be tackled at the highest level, without further delay.”

Meanwhile, di Montezemolo said he had no complaints about Ferrari’s failed strategy in Canada, seeing positives in the fact that the team was fighting for a win.

“I am not used to dealing with regrets, as I prefer to always look forwards,” he said. “In Montreal, I saw a team with a great will to win, and that was seen right to the very end, maybe even taking some risks that might have been excessive.

“To see a Ferrari fighting for the win right to the end is just what I want to see, and so do our fans. I am pleased with the progress seen over these past few races, but my thoughts and all the efforts of the Scuderia are already focused on Valencia and then Silverstone, where we must make further steps forward. We must continue down this road, aware, as I am keen to repeat one more time, that success in this championship depends only on ourselves.”

Adam Cooper notched up his 27th season as a racing journalist in 2011. He has written about F1 for SPEED.com since 2005. Follow him on Twitter.