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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.

Ferrari 250 GTO may have set new sale record at $52M

Records are made to be broken, and it seems that one may have just been snapped again. An Italian website is reporting that a Ferrari 250 GTO, owned by American collector Paul Pappalardo, recently sold for $52 million.
Now, this is far from confirmed - Pappalardo responded to questions about the sale saying, "I do not confirm these things, I have no comment about!" - and if it's a private sale, it's unlikely that we'll ever know the exact amount of the transaction. If that figure is correct, though, it easily eclipses the $35 million made in a 250 GTO sale in April of 2012, as well as the $27.5-million sale of a 1967 Ferrari 275 GTB/4 NART Spider sold at RM's Monterey auctions in August.
What makes a car that had 39 examples built more valuable than one that had only 10 units produced? Racing pedigree. The 250 GTO is a racing legend, with each car having a unique provenance that is more than enough to add some serious value. According to 0-100.it, the GTO in question, 5111GT, found its first owner in French racer and winner of the 1964 24 Hours of Le Mans, Jean Guichet, back in 1963. The Frenchman used the V12-powered racer to win the GT category of the Tour de France Automobile in that same year.

Toro Rosso switches back to Ferrari F1 power for 2016

Scuderia Toro Rosso will run once again under Ferrari power next season. The "other" Italian squad (and second Red Bull team) announced the switch back to Maranello power for 2016, ending its two-year sojourn with Renault, and returning to the engine supplier it used for seven years prior. And with it, the team has also confirmed its driver lineup for next season as well. The 2016 Formula One World Championship will see both Max Verstappen and Carlos Sainz return to drive the new Toro Rosso-Ferrari STR11, maintaining the same driver lineup as this past season but under new motivation. Both drivers debuted with the team last season in a complete shakeup of its roster after Jean-Eric Vergne was shown the door and Daniil Kvyat (like Daniel Ricciardo before him) was promoted to the Red Bull Racing team. In ten seasons on the grid, the team has only landed on the podium once, and that was with Sebastian Vettel's dramatic rain-soaked race victory at Monza in 2008. The fourth-place finishes that Verstappen impressively took in Hungary and Austin this year match the team's next-best results to date. Sainz managed to finish in the points in seven out of 19 grands prix this season, including a seventh-place finish in Austin. The team finished the season in seventh place – tying its second best results to date – ahead of Sauber and McLaren, but behind Lotus and Force India. The Austrian parent company bought the team formerly known as Minardi back in 2005, hitting the grid the next season under its current name and Cosworth power. The following season it switched to Ferrari engines before joining its big brother under Renault motivation for the past season. Because of the last-minute engine swap, the team will start the season using Ferrari's 2015 power units. Faenza's switch to Ferrari supply will leave Renault powering only two teams next season: the Lotus outfit that it is now bringing back in house, and Red Bull, which will run the French automaker's engines for at least one more season – albeit branded under the TAG Heuer name. Meanwhile the Prancing Horse marque will power a total of four teams next season, including its own, Toro Rosso, Sauber, and newcomer Haas. Mercedes will power three and Honda just the one. Scuderia Toro Rosso to feature a Ferrari power unit Scuderia Toro Rosso's 2016 challenger, the STR11, will feature a Ferrari power unit. It marks a return to the company that supplied engines to the team from 2007 to 2013.