After reports claiming Ferrari could quit F1, Team Chief Luca di Montezemolo calls for a crisis meeting

Luca di Montezemolo

Ferrari President Luca di Montezemolo has asked F1 boss Bernie Ecclestone to call for a crisis meeting as he fears the sport is losing its fans and sponsors. This news comes just days after reports surfaced that Ferrari could abandon F1 in light of the declining spectator interest.

The Ferrari Chief feels that F1 will have to react in order to save itself from fading away.

In a letter written to Bernie Ecclestone, di Montezemolo said that F1, which recently had discussions with its stakeholders over cost issues, has been ignoring other aspects of the game. The Ferrari chief also maintained that the sport has failed to embrace the interests of the younger generation of fans, which will slowly lead to its downfall.

Di Montezemolo in his letter said that instead of criticizing the areas where F1 is failing, he wanted to have a meeting to iron out the faults and look towards a path of recovery.

He also suggested that Bernie Ecclestone invite F1’s stakeholders including team, media, television companies and race promoters to establish a workshop and discuss the areas where the sport is failing and how they could get rid of loopholes.

Moreover, di Montezemolo even went as far as saying that companies who are not related to F1 such as Apple and Google could be invited for the meeting.

The Ferrari chief has made Ferrari’s Maranello factory available as the venue for the meeting, and has suggested that it take place just before the Italian Grand Prix kicks off.

Earlier, di Montezemolo had been quoted in an interview as saying, "Formula One isn't working. It's declining because [the Federation International d'Automobile, the sport's governing body] have forgotten that people watch the racing for the excitement. Nobody watches racing for the efficiency, come on."

Montezemolo also reportedly suggested that Ferrari were looking at participating in sports car racing and endurance racing (like the Le Mans race) instead of the rapidly declining F1. "Of course," Montezemolo said, "we cannot do sports-car racing and Formula One. It's not possible."

After news of Montezemolo’s comments broke out, however, Ferrari was quick to issue a clarification that rebutted any notion of the team leaving the premier motorsport competition in the world. They posted a statement Friday on their official website which said that "some elements of the media" had mischaracterized Montezemolo's words. The statement also said it was "a bit of a stretch" to say that Ferrari would quit F1, while adding "there is a unique attraction to the 24 Hour race." The statement went on to affirm that "there's nothing to stop Ferrari" from competing in both events simultaneously.

In light of di Montezemolo’s call for an F1 crisis meeting, Ferrari spokesman Renato Bisignani told AUTOSPORT that the Italian outfit wanted to work with all the interested parties to improve the standards of the game. “It is natural for Ferrari to exercise a proactive approach and discussions are ongoing at the appropriate levels," he said.

"There is a need to act collectively with the sport's key stakeholders and to reflect on the bigger picture, with constructive critics in the interests of the sport, with an eye towards technology and another one towards the show.Formula 1 has been built over the years into a unique marketing and sporting platform and it must now consolidate its ability to attract global sponsors, engage with fans and make racing more exciting,” added Bisignani.