Marchionne responds to Ferrari buy-out rumors

Ferrari chairman Sergio Marchionne has denied rumors that he could make a bid for the iconic brand in the future.

The Fiat-Chrysler boss is scheduled to remain at the helm of the automotive group until April 2019, but continue to manage Ferrari at least until early 2021, at which point many believe he could take the Italian manufacturer private.

Visiting the Detroit Auto Show yesterday, Marchionne crushed the rumors however.

“Who puts such stories into circulation? That’s nonsense!” said the Canadian-Italian manager.

“Calculate that Ferrari is worth 20 billion on the stock market, so at what price would I have to buy the company? We are talking about 30 billion dollars.

“I’m an optimist, but I have to buy a lottery ticket for that.”

  • Marchionne blasts ‘Moses’ Brawn and his Ten Commandments!

Looking at the season ahead, Marchionne cast a positive outlook, and felt buoyed by a recent visit to the Scuderia’s troops in Maranello.

“I was in Maranello the last few days and I found the design guys almost too relaxed. I can only conclude that either we have made a crap car or a real beast!

“We’ve put everything into it, to have a super strong car. You’ll have to wait until February 22 when we present it,” he told Italy’s Gazetta dello Sport.

Marchionne also had a few words for the Maserati brand, believing a probable course of action for the legendary marque would be an association with the Haas F1 team rather than an involvement in Formula E.

“It would make more sense to try it in F1 with the Haas team and to have reasonable costs.

“Alfa Romeo is unfinished business,” he added, insisting the manufacturer ‘s association with Sauber will help it build its profile globally.

“We must continue to ensure that the brand is established internationally.”

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