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Ferrari to pay Fiat Chrysler $2.8B prior to spinoff

Fiat Chrysler Automobiles is trying to get capital together in a hurry to finance the automaker's growth plans. Among its strategies to raise money, Ferrari will be spun off from the FCA mothership next year with an initial public offering. However, the Italian supercar maker will be a couple billion dollars poorer at the start of its new life.
According to a filing with US regulators obtained by Automotive News, FCA intends to "enter into certain other transactions including distributions and transfers of cash from Ferrari currently estimated at 2.25 billion euros ($2.8 billion)" before it spins the supercar maker off. Those funds might include paying a dividend to investors, and FCA possibly transferring some of its debt to the Prancing Horse.
The Ferrari IPO will likely be in the second or third quarter of 2015, according to Automotive News. Ten percent of the automaker will go onto the public market in the US and possibly Europe too, and 80 percent will be distributed among current FCA shareholders. The other 10 percent is held by co-chairman Piero Ferrari, according to AN.

Race Recap: Monaco Grand Prix makes the kettle boil [spoilers]

It's not hard to believe that 80 percent of the action at the Monaco Formula One Grand Prix happened didn't have to do with straight-up racing. Mercedes AMG Petronas wasn't expected to maintain its obscene advantage over the field with Monaco being a short track that rewards corner speed over top speed, but they still ruled two of the three Free Practice sessions.
Off the track, Mercedes driver Lewis Hamilton said he thought it should be easier to beat his teammate and that he was hungrier than his teammate. Then came qualifying and Mirabeau, when Nico Rosberg had set the pole lap in the dying moments of Q3, and as the final few drivers tried to best it on their last chance - including Hamilton, who said he was on the lap that would have got him pole position - Rosberg overcooked it into Mirabeau and brought out a local yellow, killing everyone's chance to better his time. Although the sun was shining in Monaco, the paddock got cold as ice; Rosberg and Hamilton didn't look at one another, speak to one another or touch one another. Rosberg said, "It was an honest mistake." After the race, a disbelieving Hamilton said to the press, "I wish you could have seen the data."
They still lined up first on the grid, though, Rosberg ahead of Hamilton, followed by Daniel Ricciardo and Sebastian Vettel for Infiniti Red Bull Racing, Fernando Alonso and Kimi Räikkönen for Ferrari, Jean-Eric Vergne in the first Toro Rosso and Daniel Kvyat in the second in ninth, split by McLaren rookie Kevin Magnussen in eighth, and Sergio Perez in the Force India in tenth.

Ferrari USA boss takes over as F1 team principal steps down

Stefano Domenicali, the team principal of Ferrari's struggling Formula One team, has resigned. Domenicali's term at the helm of the legendary F1 team started with a bang, as the Scuderia captured the constructors' title in 2008, but went downhill rather quickly.
In his tenure, Domenicali, above, has witnessed Red Bull assert its dominance of F1 while the red cars from Italy have languished, failing to even challenge for a championship during the past four seasons. Ferrari's best season under Domenicali was 2012, and it still finished 60 points behind Red Bull.
Domenicali issued a statement saying he took "responsibility, as I have always done, for our current situation."