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Charles Leclerc takes fourth straight pole at Russian Grand Prix

SOCHI, Russia — Charles Leclerc clinched his fourth straight pole position and championship leader Lewis Hamilton was second in qualifying at Formula One's Russian Grand Prix on Saturday. Leclerc finished 0.402 seconds clear of Hamilton, with Leclerc's Ferrari teammate Sebastian Vettel third fastest at the Sochi Autodrome. Hamilton is bidding for his first win since the summer break and his Mercedes team is often the dominant force in Russia, having won all of the five races staged here. Hamilton is 65 points ahead of teammate Valtteri Bottas in his quest for a sixth world title, but looks to have his work cut out against Leclerc. Alex Albon crashed out of qualifying. The London-born Thai spun at the slow-speed Turn 13 before slamming into the barriers. The driver was unhurt. Vettel finished ahead of Red Bull's Max Verstappen but the Dutch driver will be bumped back five places following a grid penalty for changes to his engine. Ferrari, winless in the opening half of the season, is now the team to beat as it seeks a fourth consecutive victory. While Vettel ended his 13-month losing streak in Singapore last weekend, it is Leclerc who continues to impress in his opening season with the Scuderia. This marked his sixth pole this season and it is also the 10th straight round Leclerc has out-qualified Vettel, the four-time world champion, who was 0.425 slower in qualifying. "It definitely feels great to be back on pole," said Leclerc, who became the first Ferrari driver since Michael Schumacher to claim four straight poles. Leclerc is 96 points behind Hamilton in the championship, with a total of only 156 to play for in the remaining six races. Hamilton has not been on pole since the German Grand Prix in July, a streak of five races, but was delighted to have split the Ferraris with his final effort. "I gave it everything I could in the end and I am so glad it came together," Hamilton said. "I wasn't expecting to be on the front row so I am really happy." Bottas finished fifth in qualifying. The Finn will join Vettel on the second row following Verstappen's penalty. Earlier Saturday, McLaren said the team will be powered by Mercedes from 2021, ending its association with Renault at the end of the 2020 campaign. The long-term agreement will run until at least 2024.

Ferrari stock demand exceeding supply

As with the Ferrari cars, so it is with shares in the company's initial public offering: When Ferrari has a limited quantity of something to sell, demand far outstrips supply. Investors told banks weeks ago that bids for the $1 billion in stock – up to 18.89 million shares – would exceed the number of shares available over the entire expected range of $48 to $52. Ten percent of the company is going on the block' Bloomberg reports that the books close on the IPO on Monday at 4:00 pm. The final price will be set on Tuesday, and trading will begin Wednesday under the ticker symbol RACE on the New York Stock Exchange. Piero Ferrari, the son of Enzo Ferrari, will hold onto the ten-percent stake he currently has in the company. Fiat Chrysler will disburse the final 80 percent to its investors sometime in 2016. In combination with spinning Ferrari off from its parent company next year, the share sale is expected to put $4 billion into Fiat Chrysler coffers, which will be used to help fuel the growth of Alfa Romeo, Jeep, and Maserati. Assuming all goes to plan, Bloomberg says Ferrari will be valued at roughly $12 billion, a number $1 billion greater than the valuation Fiat Chrysler CEO Sergio Marchionne put on Ferrari earlier this year and higher than the brand's own internal assessment. Related Video:

Qatari sheikh flees US after speeding Ferrari [w/video]

A prominent Qatari national has reportedly fled the United States after a video ostensibly showing his Ferrari racing through the streets of Beverly Hills went viral. Although the exact identity of the driver remains unclear, it is believed that the yellow LaFerrari was owned by Sheikh Khalid bin Hamad Al-Thani, a member of the ruling family of Qatar, the country's former interior minister and a well-known racing enthusiast. The video below, which has already attracted some 1.5 million views (but contains language that may not be safe for the workplace), shows the yellow hybrid hypercar racing with reckless abandon against a white Porsche 991 GT3 through the swanky Los Angeles neighborhood. The Ferrari is shown scraping its chin spoiler on the road before pulling back into the driveway (alongside a black Bugatti Veyron) with smoke billowing out its engine bay. Neither of the European exotics appear to show much regard for traffic laws, running stop signs as they speed through a residential area. The Ferrari appears to be wearing Qatari plates, while the Porsche does not appear to be carrying plates at all - just some racing decals on the doors and hood. According to reports, the Ferrari belongs to Sheikh Khalid, but the identities of the drivers behind the wheel of either car has not been ascertained. The Al-Thanis are known for their supercar collection, which is shipped around the world for the enjoyment of royal family members. Their signature teal and black exotics are a regular site around London. The Beverly Hills Police Department confirmed that, when approach by officials, the driver claimed diplomatic immunity – which the driver may not actually have. "It is against a federal law for someone to claim diplomatic immunity when they don't have it," said police chief Dominick Rivetti. The Ferrari was not, according to reports, registered with the State Department as belonging to a credentialed diplomat. Al-Thani has since reportedly fled the country, and taken his cars with him. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: BBC, Effspot via YouTube Government/Legal Ferrari Porsche Supercars porsche 911 gt3 ferrari laferrari