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SBD Global/November 19, 2013/Franchises

Ferrari Financially Invested In Restoring F1 Team To Dominant Form Of Early 2000s

This year, Ferrari "presented its best financial results in history, with a revenue increase of 6.7%" and net profit of €178.8M ($242M), according to Oriol Puigdemont of EL PAIS. Ferrari's marketing department "indicated that there is no direct relationship between F1 success and sales." The strength of the Ferrari brand "is more than proven," but its F1 structure "is under all types of pressure -- not only athletically, but also politically." Two things "are sacred in Italy: the national football team and Ferrari." Both are "facing delicate moments after an era of global dominance." Since the last time a Ferrarri driver "was crowned" (Kimi Räikkönen in '07), "too much time has passed." In all that time, "Ferrari has not stopped restructuring, but without finding the formula for a return to the highest level, and now, it is taking this more seriously than ever." Ferrari's racing team said in a statement, "We have spent the last 10 years improving the product and in the industrial area, and now, we have focused on F1." New Ferrari Chassis Technical Dir James Allison said, "I am lucky to arrive at Ferrari as it is making this titanic investment." If "Allison is the most visible face of the new effort, the most recognizable symbol is surely Ferrari's massive wind tunnel that is now fully operational" (EL PAIS, 11/17).
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