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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 celebrates 70th anniversary on the 18th fairway at Pebble Beach

Ferrari is celebrating its 70th anniversary this year, so it's no surprise that the legendary Italian automaker played a large part in the 2017 Pebble Beach Concours d'Elegance this past weekend in the Monterey Peninsula. Four separate classes of Ferraris were featured including Grand Touring, Competition, Major Race Winners, and One-Offs. You can view the photos from the 18th fairway in the gallery above, or scroll down below to read about some of our favorites with descriptions courtesy of the Pebble Beach Concours Car Guide. 1958 Ferrari 335 Sport Scaglietti Spyder Three Ferrari 335 Sport Spyders with V12, 4-liter engines were built in 1957 — and then Luigi Chinetti persuaded Enzo Ferrari to build one more. This Spyder (chassis 0764) was completed by Scaglietti at the end of 1958. It was first presented at the New York Auto Show and was soon nicknamed the "Super Testa Rossa." Alan Connell purchased the car and raced it at Road America, Watkins Glen, Daytona and Nassau in 1959 and 1960. Thereafter it was owned, driven and enjoyed by several different collectors, and in 1990 it was notably lent to Phil Hill to drive in the Mille Miglia Storica. The current owner acquired the Spyder in 2013. 1967 Ferrari 412 P Competizione To replace the successful Ferrari P3, the factory developed the intermediate 412 P race car — also known as the P3/4. Designed by Mauro Forghieri, the 412 P features an aluminum body that owes its shape to the Ferrari wind tunnel, and the car develops 420 bhp due to its 4-liter, V12 engine with six Weber carburetors. This 412 P (chassis 0850) was purchased by the Ecurie Nationale Belge team of Jacques Swaters, and it raced in bright yellow livery at various events in 1967 and 1968. It finished second overall at the 1,000-km Race at Montlhery in 1967, and it won the Cote de Condroz and Cote de la Roche Hill Climbs in 1968. The car was also entered in the 1967 24 Hours of Daytona when Ferraris famously finished 1-2-3. After its racing days concluded at the end of 1968, the 412 P was converted to street use for Dean Martin, Jr. and was often seen on roads around Hollywood. It is shown here at Pebble Beach for the first time since being restored to its original racing specification. 1958 Ferrari 250 Testa Rossa Scaglietta Spyder This Ferrari (chassis 0728) is one of the most famous of all Testa Rossas.

F1's Raikkonen to race for Sauber as Leclerc brings youth to Ferrari

Kimi Raikkonen will not be going out of Formula One at the top, or even with a top team. The announcement on Tuesday that the 2007 world champion is leaving Ferrari, the sport's oldest, most glamorous and successful team, at the end of the season was only to be expected. Less so was the subsequent revelation that the 38-year-old "Iceman" had agreed a two-year deal to continue with Ferrari-powered Sauber in a swap with that team's Monegasque rookie Charles Leclerc. That will close a circle at least, the Swiss team being the ones who gave Raikkonen his debut in 2001 despite the powers-that-be fearing he was too inexperienced. And it will keep the Finn racing on into his 40s. It will also please Formula One's owners, already facing the retirement of double world champion Fernando Alonso, by keeping one of the best known and most popular drivers on the starting grid. But the days when Raikkonen could hope for poles and wins, already scarce even at Ferrari where Sebastian Vettel is the main contender and team orders have been applied, are surely over now. Sauber was last in 2017 and is ninth of 10 teams now, even if the signs are more encouraging than they were, and there is a likelihood that Raikkonen will now be simply making up the numbers. The Finn will still relish racing with less media attention and more freedom, while for Ferrari there are also clear benefits. For the first time in four years, they now have a new benchmark for four-time champion Vettel and a (very) young driver who represents the future rather than the past. Vettel has outperformed Raikkonen consistently since the pairing started in 2015 with the German's move from Red Bull, and the Finn is already 62 points adrift this season with seven races remaining. Raikkonen has been more competitive this year, taking nine podium finishes and pole at Ferrari's home Italian Grand Prix with Formula One's fastest ever lap, but there are those who question whether Vettel is being pushed hard enough. Some even wonder just how quick the German really is. Ferrari will hope that 20-year-old Leclerc, unless told to adopt a subservient role, can apply a bit more pressure and help answer those questions. The gamble is that the youngster's relative inexperience could impact, in the short-term at least, Ferrari's constructors' championship hopes as he finds his way under considerable scrutiny.