MX23RW : Tuesday, November 26 10:30:04| >> :120:4605:4605:

Ferrari could veto Wolff as F1 CEO - report

Ferrari could veto Wolff as F1 CEO - report
© Reuters
Ferrari could veto Toto Wolff's candidacy to become CEO of Formula 1.

Ferrari could veto Toto Wolff's candidacy to become CEO of Formula 1.

A report in Racefans claims the Mercedes boss could be lining up to replace Chase Carey, with both men's contracts expiring at the end of next year.

But as F1 business journalist Christian Sylt reports, Ferrari could throw a spanner in the works.

"A pivotal point that Racefans neglected to mention is that Ferrari has a say in whoever becomes F1's chief executive," Sylt wrote in Forbes.

F1's flotation prospectus confirms this, laying out that in the Concorde Agreement the sport's owner "must obtain the written consent of Ferrari" before a new CEO is named.

Ferrari's consent applies if the candidate "held a senior executive office or an ownership interest of 5 per cent or more in any team" in the past five years.

Both apply to Wolff, who is the 30pc owner of the Mercedes team.

ID:358676: cacheID:358676:1false2false3false:QQ:: from db desktop :LenBod:restore:1835:
Restore Data
Share this article now:
A downbeat Charles Leclerc in Baku on April 27, 2019
Read Next:
Leclerc accepts team orders 'to a point'
>
rhs 2.0


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
Argentina's Lionel Messi kisses the World Cup trophy after collecting the Golden Ball award on December 18, 2022Sign up for our FREE daily preview newsletter direct to your inbox!