GreenBkk Formula 1 | 'Formula One would survive with a new name'

'Formula One would survive with a new name'

Ferrari president Luca di Montezemolo believes that F1 could survive a name change if it was necessary to stop '[giving] up everything that made our sport.'

When former FIA chief Max Mosley announced two years ago that extreme budget cuts would be implemented, di Montezemolo proposed that it had become necessary for the F1 teams to break away from Formula One rights-holder Bernie Ecclestone and form their own series, and with the announcement that the sport will switch to four cylinder engines in 2013, the Italian is once again mulling over the possibility of a breakaway series.

"We need to think about what to do," he told Auto Motor und Sport.

"It cannot go on as it is now. It cannot be that we give up everything that made our sport for the sake of costs - F1 is about extreme innovation and technology. Do we need the name 'F1'? I believe we could go on with a different one."

"Theoretically-speaking, we can have one of three alternatives. One is that we renew with CVC, but only with better financial conditions. For how many years, we have to discuss, but I am in favour of many years because I don't want to be back every three or four years. So, assume five-to-eight years. Second, we want to ensure that Bernie will remain in a strong position. How long? I hope for a long time. It is not a new choice; it is to continue as it is.

"The next option is that we find a different company [promoter] and start discussions. Third, we can establish our own company. At this point of time we would theoretically offer to Bernie to be chairman; more than honorary chairman - a chairman. We put a very strong marketing-oriented mind, nothing to do with the teams, to manage it and think of new and modern methods for marketing, as they did in the NBA. Only in the first case would we insist on Bernie, because I don't want to discuss with people that I respect but who don't know anything about F1," he added.

With the poor economic climate and attempts to become more environmentally friendly forming a large part of the Formula One thought process at the moment, many appear to be coming disheartened by the slow eradication of elements of the sport that make it the world's premier motorsport.

However, discontent and the formation of a new series are world' apart and it remains to be seen if di Montezemolo and likeminded officials will push forward with such radical plans.

Credit: PlanetF1.com (www.planetf1.com)