Ferrari to appoint Bernie's Successor?

[Jericoke]

http://www.gpupdate.net/en/f1-news/304235/ferrari-has-veto-over-ecclestone-successor/

Okay, alarmist headline.  Ferrari doesn't get to appoint... just veto any choice they don't like.  And Luca sits on the committee that gets to nominate.

[Scott]

Wow...Luca really has some power in F1.  I knew they get their 'Ferrari Bonus' from the TV rights, but didn't realize they had their claws in something like the stock flotation.  Does Ferrari have a chunk of F1 stock already then?  I suppose so.   

On the other hand, do any of the other teams have some as well?  There could well be a few more clauses like that for McLaren or Mercedes you would think.

[lkjohnson1950]

Bernie seems to think F1 without Ferrari is a non stsrter, so he has given them a lot of extra perks. Frankly, I think they are overvalued. Losing Ferrari would be a heavy blow to F1, but it would survive. Besides, Ferrari is the truest example of win on Sunday, sell on Monday. Where else would they get the racing prestige of F1? They need F1 as much or more than F1 needs them.

[John S]

I'm sure this is Bernie and CVC's response to the teams revolt a few years back. Short of offering Ferrari a contract for the hundred years or so of FOM's agreement with the FIA it's hard to see how CVC can be pretty certain that their gravy train will roll on and on.

I seem to recall other teams were selectively offered advantages by Bernie/CVC and in fact Mercedes were very p*ssed that their status was much below McLaren & Red Bull. It's all been sorted now but when we talk about the haves & have nots in F1 we should also remember that the big teams - oh and Williams - now have much more clout as well as more money.

However Bernie is a slippery customer so you can bet the influence the teams think they enjoy is really pretty superficial. Vetoing a new CEO may not have much effect at all if the executive layers of the business are in place properly. After all no one is talking about Ferrari having the right to appoint someone.       

[lkjohnson1950]

It's a little hard for me to believe that a company like CVC would give an outside entity even a veto over an internal personnel decision. That would be like giving Penske veto power over the selection of a COO for GM just because he's one of their largest dealers.

 

[F1fanaticBD]

Is it fair to other team, that one particular team get to have so much political power? Then again its F1, I think it works in a very twisted sort of way 

But I have a feeling over the years, Ferrari has lost a lot of ground in this regard, it is not as powerful as it used to be.

I agree that Ferrari needs F1 more than F1 needs Ferrari

[Scott]

It's a little hard for me to believe that a company like CVC would give an outside entity even a veto over an internal personnel decision. That would be like giving Penske veto power over the selection of a COO for GM just because he's one of their largest dealers.

 

That seems a bit unusual to me as well, unless the agreement pre-dates CVC's ownership.

[Irisado]

I'm not surprised at all.  Ferrari had the power of veto during the Schumacher era over any rules decisions/packages that they didn't like, after doing a private deal with the FIA, so the fact that they still have influence is to be expected.