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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

Formula One's Valtteri Bottas can turn it up to 11 in Spain

BARCELONA - Valtteri Bottas can add his name to one of Formula One's longest sequences by following up his breakthrough win in Russia with another triumph when the European season starts in Spain this weekend. The Finn, fresh from his first Grand Prix victory with champions Mercedes in Russia, is the man most likely to become the 11th different winner in a row at Barcelona's Circuit de Catalunya. No other track on the calendar has had such a variety of winners over the past decade, an ironic fact given that it is the most familiar to drivers from winter testing and was once famed for its predictability. Last year it was Dutch 18-year-old Max Verstappen who became the sport's youngest winner when he triumphed for Red Bull, on his team debut, after both Mercedes drivers collided at the start. In 2012, it was now-departed Venezuelan Pastor Maldonado -- a one-hit wonder -- who handed Williams a surprise victory that remains their most recent. Ferrari's championship leader Sebastian Vettel and Mercedes rival Lewis Hamilton, 13 points behind the German, will start as favorites and success for either could be an omen given that both went on to take the title last time they won in Spain. But Bottas, who joined Mercedes from Williams in January as replacement for retired 2016 world champion Nico Rosberg, is the best bet to continue the streak of different winners in Spain even if he has yet to finish higher than fourth there. "Getting that first win definitely gives me a lot of confidence that I can do it, even though I always knew I had the ability," he said after Sochi. "And now it's done, I just want to do it again and again." RICCIARDO REVIVAL The only other driver from the leading trio of teams yet to triumph in Barcelona is Verstappen's Australian team mate Daniel Ricciardo, but the Red Bull has lagged Mercedes and Ferrari on pace so far this year. That will surely change, with the flow of upgrades set to speed up now that teams are closer to their factories, and Red Bull have some big chassis modifications in the pipeline with engine improvements still to come. "I hope the upgrade will give us a chance to really fight with Mercedes and Ferrari or at least get us closer," said Ricciardo. The driver of car number 11, Force India's Mexican Sergio Perez, has racked up 14 successive points finishes and he too will have aerodynamic updates on his car.

The Prancing IPO

Owning a Ferrari is something that a lot of car nuts hope to achieve. If you cringe every time you see some celebrity put massive rims on a 458, or paint an F430 neon purple, then you are the kind of person that appreciates what a Ferrari is. It's not a status symbol that will somehow make everyone love you and think you the most amazing person. Rather it is a medium with which to connect yourself to the history and heritage that exists in Modena. The sights, sounds, and smells of the car are worth more than any "thumbs up" you might get driving down the street. The exclusivity of the brand is one of the mechanisms that helps preserve that absolute care it takes to create a Ferrari. Now I don't own a Ferrari, but I appreciate that the Mr. Enzo Ferrari had a very significant part in molding car culture and motorsports. That tradition was carried on by a lot of people after Enzo himself. During my formative years that person was Luca Di Montezemolo. Every time he stepped in front of the camera in his distinctively Italian suit and shoes, I knew Ferrari was in good hands. Just the attitude he had made me feel safe that this very significant part of car culture was in safe hands. He could be giving an interview in Italian and without understanding a single word (well maybe one word, Ferrari) knew he was going to keep the Ferrari in Ferrari. Enter Sergio Marchionne. Now I am a huge Sergio fan. This guy is not your typical auto exec. His office isn't in the highest part of the tallest tower in Auburn Hills, and he doesn't wear a hand-crafted suit made of million thread count cloth. Not dogging in the man's style (his wardrobe is for sure worth more than mine and most others), but basically he is normal guy that doesn't conform to what might be considered the norm. He is his own man. On top of all that, he is a financial wizard. I was skeptical when he took over the reins at Ferrari only because he seemed to have so much on his plate to begin with. In the end I knew a car-guy, albeit one with a CPA/MBA, was in charge. So now when I heard he wanted to spin off Ferrari, I started trying to guess how long it was going to be before the geniuses of Wall Street started pushing Ferrari to pump volume. I saw a horrible future where there was now some entry-level Ferrari with a turbo-six, and four doors...just so every 30 yr-old analyst could flash their Ferrari key at the bar. Then I started thinking about another thing, the value. What is it worth?