Ford Owns Ferrari?

I'm I think there are a few myths going on here.

1. Ferrari was approached by Ford - Walter Hayes of DFV fame, Henry Ford II wanted a sports car immage to combat Corvette. The easiest way was to Buy Ferrari. Ferrari at the time was having terrible trouble with the Italian Unions and Communist... so he was haveing financing issues. its true that he did not care for the road cars.. that was always a means to an end... Ford and Ferrari came to terms, but in the fine print he found that he would have control of the racing team, but his single item spending limit was going to be $100K us. that was what set Ferrari off, and started the trouble. If you read in his book Piloti Che Gente... Enzo describes the episode. I dont know anything about Ferrari going back to Ford... I do know that Ford was pretty put out, at the last minute as they had announced the deal, etc... so Henry Ford vowed to beat Ferrari at his own game... AKA GT40.... and winning Le Mans and the world sports car MFG.

Ferrari then went on for several years on his own, and finally met with Angelli of the FIAT group, who basically cut the deal where He would own 55% of the company and FIAT would buy the rest. Enzo would have 100% control of the racing and be the chairman of the whole company, but FIAT would run the road car production.

FIAT was is owned by the Angelli family... or at least a majority of it... but Ferrari is owned now by Piero Ferrari, FIAT, and a Middle eastern bank... Mubuadala .. or some thing like that.

There has been speculation that Piero wants to put a consortioum to buy the company back, but FIAT will not play ball... its their most prized asset...

 

Nope. Enzo asked the Italian Council to approach Ford which he did. The approach led no where. A bit later Ford approached Enzo but it had nothing to do with the Corvette. Read Brock's book. I treasure the copy Enzo gave me of his books but I have no illusions as to everything in them being exactly as it happened.

 

Actually the FIAT agreement was a little more complicated than that...Mr. G. will know.......basically Enzo kept majority shares until death. There's a legal term for it

But at the same time, Pierro (still a child and unannounced to the world) was into the deal with a stake and Ferrari also sold them on the idea that Scaglietti was a "subsidiary" insuring his old friend was also taken care of, for a lifetime!

Upon his death FIAT assumed majority shareholder status....if I am recalling it correctly.

 

Correct.

 

Thanks!

You are working pretty hard these days, I imagine.......I saw your new car left out at the Station!

 

as a clarification: Did the Mustang horse derive from the Cavallino in a sense during that time as sort of a 'slap' at Ferrari?
and
I always thought there was a thread of truth in Enzo was working two sides of the table: Ford he was growing sour on, prompted him to sort of pressure Fiat towards a deal. Enzo was knowing he wasn't going with Ford after things turned sour, and he was trying to bump up his deal with Fiat by making them feel the Ford deal was more intact.

Any of this have some truth.

Rik

 

Mustang in 1964- 1/2, before the negotiations, IIRC.

FIAT deal came in 1969.......

 

shoot, barely enough room for an internet myth

rik