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Fiat Chrysler denies rumors that Ferrari SpA is moving to London

It seems that reports of Ferrari's relocation to London have been somewhat exaggerated. The past few days have seen more than a few stories on the legendary Italian brand's decision to move its tax base out of Italy, and now Fiat Chrysler is speaking out against the scuttlebutt. "These rumors have no grounds," FCA said in a statement obtained by Reuters. "There is no intention to move the tax residence of Ferrari SpA outside Italy, nor is there any project to delocalize its Italian operations, which will continue to be subject to Italian tax jurisdiction." Ferrari's move to London was based on two beliefs. First, that the company would benefit from being located nearer the investor community, should it be listed on a European exchange. FCA, though, said a European listing was only a "possibility," according to Reuters. Instead, the company will be listed on an American market. Aside from the move to benefit investors, it was believed Ferrari was looking to relocate to escape Italy's more oppressive corporate tax rate, which sits around at 31.4 percent, compared to the UK's 20 percent, Bloomberg reports. This denial by Fiat Chrysler, though, should be enough to close the book on Ferrari leaving Italy, no matter how much sense it might make. Related Video:

Jules Bianchi was supposed to replace Raikkonen at Ferrari

Formula One lost one of its budding talents when Jules Bianchi sadly succumbed to his injuries just days ago. But few knew just how promising his future looked prior to the crash that ultimately took his life. Luca di Montezemolo did, though. In a tribute written for Italy's Gazzetto dello Sport, the former Ferrari chairman revealed that Bianchi had been earmarked to eventually replace Kimi Raikkonen. "Jules Bianchi was one of us," wrote Montezemolo. "He was a member of the Ferrari family and was the racing driver we had chosen for the future, once the collaboration with Kimi Raikkonen came to an end." The news may come as something of a surprise, but doesn't come entirely out of left field. Bianchi had been part of the Ferrari Driver Academy development program. He rose up through the ranks of the feeder formulae largely with ART Grand Prix, the team run by Nicholas Todt, son of the former Ferrari chief and FIA president. He served as a test driver for the Scuderia in 2011, and scored his first and only F1 championship points driving a Ferrari-powered Marussia at the 2014 Monaco Grand Prix. He stood in for Kimi at Ferrari during a test session at Silverstone (where he was pictured above), but tragically crashed during the Japanese Grand Prix, and finally succumbing over this past weekend to the injuries he sustained in the collision nine months prior. Bianchi "would be the one driving for Ferrari after the experience in GP2 and after some fine performances in F1 and in some tests that had our technicians very impressed," wrote Montezemolo. "A bitter destiny has instead taken him away from us, leaving an indelible mark and a great pain inside us." Bianchi is scheduled to be interred on Tuesday in the French Riviera city of Nice, just down the coast from where he made his mark last year. And, in a touching tribute, the FIA has said it will retire the number 17 from the F1 World Championship. The tragic loss leaves Ferrari searching for another driver to replace Raikkonen. The Finnish driver won the championship for Maranello in 2007, was shown the door in 2010, returned to F1 with Lotus in 2012, but has struggled to find his form again. Last season he finished a lamentable twelfth, but has shown better form this season with a second-place finish in Bahrain to sit fifth in the standings. Now 35 years old, Kimi is one of the older drivers on the grid.

1971 Ferrari 365 GTB/4 Daytona could be world's first great 'condo find' [w/video]

Barn finds are the absinthe of the collector car world right now. They're highly intoxicating and a bit of the 'flavor of the month.' An actual barn isn't necessary, just some form of out-of-the-way long-term storage that involves a car being out of circulation for a long period of time, remaining complete with the time-capsule-like detritus of their slumber-yellowed newspapers, vintage eight-tracks or real pay dirt like a telex printout from Howard Hughes or a receipt from the Playboy Club. RM Auctions has just announced perhaps the first 'condo find' in a 1971 Ferrari 365 GTB/4 Daytona coupe that had been stored in a Toronto condominium building for a quarter century. Like any good barn find, this Ferrari is still covered in a layer of thick dust (the removal of which would likely devalue the car considerably) and still has a cartridge entitled "Disco Rock" shoved in its original eight-track player. And while the one and only owner's taste in music may have been questionable, his taste in cars wasn't. The Daytona was the last front-engine V12 two-seater Ferrari produced during the so-called Enzo-era, when founder Enzo Ferrari was still in command of the company. With its 172 mph top speed, a Daytona was famously used by Dan Gurney and Brock Yates in setting a coast-to-coast record of 35 hours and 54 minutes to win the first Cannonball Baker Sea-to-Shining-Sea Memorial Trophy Dash in 1971. An impulse trip to the Geneva Motor Show in the same year by a Toronto businessman saw him purchase the Daytona where he spent a month touring Europe before sending the car back to Canada on the Queen Elizabeth II. He drove it for eighteen years and put a whopping 90,000 kilometers – 56,000 miles – on the car prior to putting the car up on blocks in a condo garage before a trip to Asia that he anticipated would last just six months. The car remained in that spot until November 14, 2014. The car that originally sold for $18,000 in Geneva, Switzerland in 1971 is expected to bring in excess of $600,000 at RM Auction's Amelia Island sale in March. Carwash not included. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 1971 Ferrari 365 GTB/4 Daytona Berlinetta Chassis no. 14385 Body no.