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Ferrari bos Sergio Marchionne is not keen to consider investing as a new Formula 1 partner unless the sport's new owners clarify their long-term plans.

"We have started exploring the opportunity now - we are in discussions with Liberty and I recently had a meeting with new F1 boss Chase Carey," Marchionne told Ferrari shareholders in a briefing this week. "The issue is not just the question of the financial investment - this is something that we do for a living in a very serious way and the Concorde Agreement expires in 2020.

"So, becoming a non-voting shareholder in an entity, which effectively keeps us trapped in without knowledge of what 2021 and later would look like, it is something I consider unwise. "One of the things we have tabled with Chase, and I think we're not the only ones that are tabling these concerns, is clarity on what the post-2020 world looks like and what Ferrari may be able to get from its involvement in Formula 1 activities.

"Once we have clarity, then I think it becomes a lot easier to decide whether we want to participate in this venture. "I think that there's a huge amount of upside left in F1, which if properly managed can deliver rewards for everybody who is an investor in this business, but we need clarity and we're not there yet."

"There will be no changes to the contractual agreements until 2020 with F1 and Ferrari," the Ferrari boss explained about plans to redistribute F1 wealth, apparently to the behest of his team. "The topic has not even been brought up, and I think it will be fairly unwise to raise it as a discussion topic."

 

"What I do expect, to be honest, is the sport itself to do better in 2017 and I think there would be a great basis for us to continue and to continue our commitment to Formula 1, and to really set the basis for a post-2020 world. "I would expect the Liberty and Chase, in particular, would have a very clear understanding of the fact of that the entertainment side of this needs to come back to play.

"I mean, we cannot keep on committing to a sport that has decreasing audiences for a variety of reasons. And so we need to re-popularise the sport and we need to make it more accessible. This all what needs to be done.

"We will do our part in this in making sure that happens."