(April 1, 2013) The rumours about Ferrari Formula 1 having a veto over changes to Formula One’s regulations and receiving more prize money than other teams are almost urban myths. No direct evidence has ever been presented to prove them. Until now.
A few weeks ago Italian newspaper Corriere dello Sport shed new light on one of the longest-running rumours in the history of Formula One. It claimed that Ferrari has a veto over any change to F1’s regulations and it added that Max Mosley, former president of motor sport’s governing body the Fédération Internationale de l’Automobile (FIA), awarded the privilege to the team in 2005 to prevent it leaving. It certainly wasn’t the first time that this kind of rumour has been reported but it may well be the last because evidence has come to light which at last proves that Ferrari does indeed have a veto.
F1’s new season got underway last month in Australia despite the expiry at the end of 2012 of the Concorde Agreement, the contract which commits the teams to race. This was signed by the teams, the FIA and F1’s rightsholder the F1 Group, which is controlled by private equity firm CVC and run by Bernie Ecclestone. The teams lined up on the grid in Australia and the race went ahead as usual largely due to the existence of several crucial contracts.