Formula 1 News - February, 2008
Ferrari finances looking healthy for '08

Feb.13 (GMM) As well as having seemingly the quickest car for the forthcoming season, Ferrari also boasts a particularly healthy financial outlook.

The accounts of the Italian marque's manufacturer parent, Fiat, revealed recently that the famous Maranello sports car maker recorded sales of (euros) 496m last quarter, with a trading profit of 196m -- increases of more than 20 per cent.

Additionally, the F1 financial report Formula Money reveals that Ferrari received a whopping (US) $100m payment from Formula One Management, for winning the 2007 championship under the improved financial terms of the sport's new ownership.

The amount also includes part of an extra payment for Ferrari, promised by FOM for committing to F1 over a proposed breakaway series a few years ago.

In contrast to McLaren, which had to cough up $100m to the FIA for the espionage scandal, Ferrari's payment is believed to be the biggest amount ever received by a championship winning team.

Red Bull driver Mark Webber was asked about Ferrari's reported $100m windfall in discussion with Australian journalists recently.

"They're in good shape so it's nice to be in that position if you could be, yeah," he said.

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