Sergio Marchionne denies eyeing Ferrari buy-in
- Published on 16 Jan 2018 09:56
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- By: Rob Veenstra
Sergio Marchionne has denied that he has plans to buy into Ferrari after stepping down as Fiat president. The Italian-Canadian has already announced that he will retire as Fiat Chrysler chief in April of 2019, because "I want to do something else".
But he will remain in charge at Ferrari until at least early 2021, triggering rumours the Fiat exit could in fact be because he wants to buy the fabled Maranello marque. "All noise," Italy's La Gazzetta dello Sport quotes him as denying. Referring to Ferrari, he said: "It's good that we are optimistic. We will try to win the world championship, make a lot of money and we'll all be happy."
Marchionne said another big objective for 2018 is to continue to build the profile of Alfa Romeo, the new Sauber title sponsor. "Alfa Romeo is unfinished business," he said. "We must continue to ensure that the brand is established internationally." (GMM)
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Replies (3)
Login to replyBarron
Posts: 625
To be honest, that’s a great idea. He’s as close to the spirit of old Enzo as you could get...But, how does it work? Does he just buy shares or sell it to himself haha..
mcbhargav
Posts: 1,332
Not sure about his likeness to that of Enzo, but if he has to buy Ferrari , he needs to buy from the Stock exchange, as RACE is a publicly listed company now.
ajpennypacker
Posts: 2,475
I think he was a great FIAT CEO, but an inadequate Ferrari. He is a good businessman, but he's no racer. He has the arrogance but no the passion for Formula 1. As much as I hated Luca Di Montezemolo as an adversary, he was truly the embodiment of the Ferrari brash, arrogant, and elegant brand.