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Ferrari have veto power on Bernie's successor

Friday 6th December 2013

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Ferrari have veto power on Bernie's successor

Ferrari have veto power on Bernie's successor

Christian Horner's chances of replacing Bernie Ecclestone as F1 supremo have been dealt a blow with news that Ferrari have veto power.

Last month Ecclestone came out saying that he reckons Horner would be the "ideal" candidate to fill his shoes.

"I would be happy to hold his hand," he added. "We could have a transitional period.

"It needs someone who knows the sport. If someone comes in from outside, a corporate type, I don't think I could work with them. It wouldn't last five minutes.

"People deal with me because they know me. They know I'm straight with them. That's how it is with Christian. I hope we can do it."

Horner, however, said it was not a consideration as "right now I am committed to my job" as team principal of Red Bull Racing.

And that's probably a good thing as Ferrari president Luca di Montezemolo laughed off the idea of a Ferrari rival replacing Ecclestone.

"Ecclestone sees Horner as his successor?" he told RAI television. "As the years go by, he more and more enjoys making jokes and I'm happy he still has the desire to do so."

And if Ferrari are not keen on Horner stepping up it won't happen as the current F1 boss has revealed the Scuderia have a veto over his successor.

Explaining to CNN the story behind his Horner comments, Ecclestone said: "Somebody said to me, 'What happens when you go, what's going to happen?'

"Christian walked past and I said: 'What about him? He is a good guy.'

"Firstly CVC would never agree and secondly Ferrari would have a say."

He went on to state that Ferrari's consent is written into the prospectus relating to F1's flotation on the Singapore stock exchange.

The prospectus states: "We must obtain the written consent of Ferrari prior to the appointment of any person as our chief executive officer if, within the past five years, he or she has held a senior executive office or an ownership interest of 5% or more in any Team or automobile manufacturer which either owns more than a 5% interest in a Team or is a supplier of engines to a Team."

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