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FCA delays distribution of Ferrari shares

Even if you can't afford an actual Ferrari, soon you can own a part of the famous company thanks to its upcoming initial public offering. FCA will put 10 percent of the Prancing Horse on the market in the third quarter of this year. However to reap extra money for 2015's bottom line, the rest of the sports-car maker's stock will remain undistributed for a little longer. According to Automotive News, the strategy is quite simple to understand. FCA is holding off until the first quarter of 2016 to divvy up the remaining Ferrari stock to shareholders. By doing so, the automaker gets to claim 80 percent of the Prancing Horse's profits for its 2015 financial numbers. While FCA is already showing strong results through Q1 2015, being able to add extra cash on the balance sheet is always a plus. FCA hasn't set a specific date for the IPO, but Ferrari stock was announced to be traded in the US and possibly on a European exchange, as well. According to Automotive News, FCA currently owns 90 percent of the company, and Piero Ferrari has the remaining 10 percent, which he isn't selling. Related Video:

Ferrari confirms Vettel in, Alonso out

For the past several months, a big shift on the Formula One grid has been rumored for next season, but with a big piece of the puzzle now confirmed, much of the speculation can end. Ferrari has announced that it is parting company with Fernando Alonso and bringing in Sebastian Vettel to take his place. The move is a big one for both drivers – each multiple World Champions in their own right – who have lead their respective teams for half a decade now, Alonso coming second in the championship three times with Ferrari, and Vettel having scored four consecutive titles with Red Bull. Vettel has long been a personal protege of former Ferrari driver Michael Schumacher, having won his first grand prix in a Ferrari-powered Toro Rosso at Monza in 2008. Now confirmed by the Scuderia for a three-year deal, Vettel will be driving next season alongside Kimi Raikkonen, who won the title for Ferrari in 2007. That was the same year in which Alonso last drove for McLaren, the team for which he's all but confirmed to be driving next season. The announcement from Woking reportedly hinges on the team's decision over who will drive alongside him, between Jenson Button, Kevin Magnussen or another driver altogether. The confirmation from Ferrari does, however, put to rest wild rumors that the series would move to three-car teams and that Maranello would field Alonso as well as Vettel and Raikkonen. Welcome Sebastian – Vettel and Raikkonen 2015 driver pairing Maranello, 20 November 2014 – Scuderia Ferrari announces that it has reached an agreement of three years duration with Sebastian Vettel, who will drive for the team as from the 2015 season. The driver line-up next season will consist of Kimi Raikkonen and Sebastian Vettel. "Scuderia Ferrari has decided to put its faith in the youngest multiple champion in the history of Formula 1" – commented Scuderia Ferrari Team Principal, Marco Mattiacci. "In Formula 1 terms, Sebastian Vettel is a unique combination of youthfulness and experience and he brings with him that sense of team spirit which will prove invaluable when, together with Kimi, they tackle the challenges awaiting us, as we aim to be front runners again as soon as possible.

Qatari sheikh flees US after speeding Ferrari [w/video]

A prominent Qatari national has reportedly fled the United States after a video ostensibly showing his Ferrari racing through the streets of Beverly Hills went viral. Although the exact identity of the driver remains unclear, it is believed that the yellow LaFerrari was owned by Sheikh Khalid bin Hamad Al-Thani, a member of the ruling family of Qatar, the country's former interior minister and a well-known racing enthusiast. The video below, which has already attracted some 1.5 million views (but contains language that may not be safe for the workplace), shows the yellow hybrid hypercar racing with reckless abandon against a white Porsche 991 GT3 through the swanky Los Angeles neighborhood. The Ferrari is shown scraping its chin spoiler on the road before pulling back into the driveway (alongside a black Bugatti Veyron) with smoke billowing out its engine bay. Neither of the European exotics appear to show much regard for traffic laws, running stop signs as they speed through a residential area. The Ferrari appears to be wearing Qatari plates, while the Porsche does not appear to be carrying plates at all - just some racing decals on the doors and hood. According to reports, the Ferrari belongs to Sheikh Khalid, but the identities of the drivers behind the wheel of either car has not been ascertained. The Al-Thanis are known for their supercar collection, which is shipped around the world for the enjoyment of royal family members. Their signature teal and black exotics are a regular site around London. The Beverly Hills Police Department confirmed that, when approach by officials, the driver claimed diplomatic immunity – which the driver may not actually have. "It is against a federal law for someone to claim diplomatic immunity when they don't have it," said police chief Dominick Rivetti. The Ferrari was not, according to reports, registered with the State Department as belonging to a credentialed diplomat. Al-Thani has since reportedly fled the country, and taken his cars with him. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: BBC, Effspot via YouTube Government/Legal Ferrari Porsche Supercars porsche 911 gt3 ferrari laferrari