Both your interpretations are quite incorrect. You do not speak the language fluently - I don't know you but this much is obvious so you should refrain from commentating with any authority. There is absolutely no "duh" in Scuderia. It's more like the 'e' in "death". And there is certainly no long "O" on Modena. I can't think of a sound in English that captures it but a long "O' is not it.