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Ferrari plans theme park for North America

Ferrari is building more theme parks, and the next one could be built somewhere in North America, according to Bloomberg. The exotic automaker opened Ferrari World – its first theme park – in 2010 on Abu Dhabi's Yas Island, adjacent to the grand prix racing circuit and where Warner Bros will soon open another theme park. A second Ferrari theme park (pictured) is currently under construction in Spain as part of the PortAventura Resort that's one of the largest in Europe, and the company recently announced a third facility "to be located in one of the primary cities in mainland China" as well. The prospective North American location would be the fourth, though details on potential sites remain unknown. The Los Angeles and Orlando areas have developed into epicenters for theme parks in America and could attract a Ferrari location, or send it looking for alternatives like Six Flags and Busch Gardens parks have. Wherever Ferrari selects, you can expect the park to feature various racing-themed attractions, including roller coasters, vertical acceleration towers, virtual test tracks, and more. The licensing of additional Ferrari theme parks comes as the company strives to position itself as a luxury lifestyle brand as much as an automaker and racing team. The storied marque has lines of clothing and various merchandise, and a network of retail stores through which it sells its products. Underscoring its expansion, Ferrari shareholders approved the appointment of several new board members from luxury brands, including Louis Vuitton Moet Hennessy and the Mandarin Oriental Hotel Group. Investors also approved the renewal of Amedeo Felisa's contract as chief executive, but he's not expected to stick around much longer as Sergio Marchionne assumes more control over the company, which recently spun off from the Fiat Chrysler Automobiles group over which he also presides. Related Video: News Source: BloombergImage Credit: Ferrari Ferrari ferrari world theme park

Race recap: 2016 Monaco Grand Prix gets very wet, a little wild

More than at any other race, the Monaco Grand Prix question is: which combination of demolition derby, Safety Cars, and bad pit strategy will decide the podium? Last year Lewis Hamilton's late, confounding pit stop cost him victory. The year before, Nico Rosberg's qualifying "mistake" put him on pole and Mercedes-AMG Petronas' pit strategy sealed his win – good for Nico, bad for Hamilton and the rest of the field. In 2013 Hamilton dropped from second to fourth when he lollygagged in the pits. In all three years, Rosberg won. The new X factor for 2016: a Red Bull resurgence that helped Daniel Ricciardo clinch his first career pole. Nevertheless, bad pit strategy had its say in the results. Ricciardo built up a 13-second lead by Lap 15 in spite of heavy rains that forced the Safety Car to lead the first eight laps of the race. Ricciardo stopped on Lap 23 to switch to intermediate tires for the drying track, ceding the lead to Hamilton. Hamilton pitted from the lead on Lap 31 for softs, then Red Bull pulled Ricciardo in again on Lap 32 and made a snap decision to put him on ultra softs, but the tires weren't ready when Ricciardo reached his pit box. What should have been a three-second pit stop turned into a 13.6-second pit stop. Ricciardo left the pits as Hamilton came down the straight and the Aussie lost the lead into the first corner. Despite two attempts to pass later in the race, Hamilton finished first, the Aussie second. It's the second race in a row where pit strategy cost Ricciardo a near-certain win. Conversely, Force India nailed both tire strategy and pit timing with Sergio Perez. The Mexican started in eighth but got into third before half the race was done, passing four cars in the pits, and finished on the podium's final step. Otherwise the order barely changed from about half distance, with Ferrari driver Sebatian Vettel in fourth, followed by Fernando Alonso in the McLaren, Nico Hulkenberg in the second Force India, Rosberg in the second Mercedes, Carlos Sainz for Toro Rosso, Jenson Button in the second McLaren, and Felipe Massa taking the final point for tenth for Williams. Storms didn't only hover over the area, though – dark clouds hung around several teams and drivers. Mercedes' reliability is no longer so reliable. The Silver Arrows suffered engine issues on both cars in qualifying, and Hamilton's problem almost kept him from setting a time in Q3.

Vettel sticks with Ferrari for three more years in 'a no-brainer' move

SPA-FRANCORCHAMPS, Belgium (Reuters) - Sebastian Vettel ended speculation about his immediate Formula One future by signing a three-year contract extension with Ferrari on Saturday. The Italian team, the sport's most successful and glamorous, said the new deal covered the 2018, 2019 and 2020 seasons but gave no further details in a statement of just 30 words. There will be inevitable questions about possible release clauses, not to mention speculation about how many tens of millions of dollars the 30-year-old German will be earning over the period. But the news, at the Belgian Grand Prix and a week before his team's home Italian race at Monza, will allow Ferrari to concentrate on fighting for the championship without distraction. "I love this team. I love the people who are working for this brand," Vettel told reporters later. "Ferrari has something unique, something that other teams don't have. People talk about a legend. To me it appears that this legend is still alive because of the people who work for it, day in, day out. "In a way, it was a no-brainer to continue. We haven't yet achieved what we wanted to achieve but things are looking pretty good, and obviously we have a long road ahead of us," he added. The four-times champion, who joined Ferrari from Red Bull in 2015, is 14 points clear of Mercedes rival Lewis Hamilton in the current standings with nine races remaining. The German had been out of contract at the end of this season and there had been speculation about a possible switch to Mercedes -- a move that would have sent a tremor through the paddock. Hamilton, a triple world champion who has one more year left on his Mercedes contract, laughed off that possibility earlier in the week when he told reporters that his rival did not want to be his team mate. Niki Lauda, the Mercedes non-executive chairman, told Sky Sports that there had been talks with Vettel but team principal Toto Wolff said that was not the case. Vettel's Finnish team mate, Kimi Raikkonen, the 2007 world champion, has already agreed a contract extension for 2018, keeping Ferrari's line-up unchanged for next year. Raikkonen, 37, and Vettel get on well, with the Finn playing the role of loyal sidekick to the team's main championship contender. Mercedes are now likely to retain Finland's Valtteri Bottas, who joined in January from Williams as a replacement for now-retired 2016 champion Nico Rosberg on a one-year deal with options.