Montezemolo plans future without Ecclestone

Ferrari president Luca di Montezemolo has criticized Bernie Ecclestone for changing Formula One too much and is aiming for a future without him involved. Montezemolo believes Eccelstone wanted too much for himself and now the manufacturers that make up the Grand Prix World Championship, which intends to run its own series from 2008, want better financial control.

"Bernie has done an excellent job transforming F1 but he has now dramatically changed the picture and it's his biggest mistake," Montezemolo told the UK's Sunday Times. "He wanted too much for himself. As a manager he got more than the teams because he was good, but now the car manufacturers are not prepared to fund the banks, they prefer to have it in their own pockets. Without us in 2008 the banks will own 100% of nothing."

Ferrari, BMW, Renault, DaimlerChrysler and Ford are the manufacturers that represent the GPWC and rumour has it that Toyota may also join. Montezemolo says the move to run a new championship is within the GPWC's rights: "We are preparing a new championship without banks, without Bernie, and with a far bigger slice of the cake for the manufacturers," he said.. "It's not blackmail, it's our right to expand."

GPWC has reportedly employed someone to find a 'new Bernie' to head the management of the intended championship. Ecclestone, meanwhile, has been quoted as saying he is willing to buy back the commercial rights of F1 from the banks that own it -- but only if teams agree to commit to the F1 championship until 2015.