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It is 20 years to the day today since Bernie Ecclestone struck a million-dollar deal with Ferrari to keep the iconic racing stable in F1. RacingNews365 looks back on that historic moment.
On January 19, 2005, Ferrari and F1 boss Bernie Ecclestone reached a deal, securing Ferrari’s participation in the series until at least 2012 for a reported sum of $100 million. Twenty years ago, F1 faced an uncertain future, with the creation of the GPWC aiming to potentially replace F1 with an alternative championship. Despite efforts to lure Ferrari to the breakaway group, the deal with Ecclestone ultimately prevented their departure. Ferrari’s commitment was seen as crucial for the stability of F1, ensuring the team’s long-term presence without draining resources from their automotive division. Although the GPWC did result in better deals for teams, including Ferrari, an agreement was ultimately reached between the breakaway group and the FIA to maintain F1’s integrity.
