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FCA delays distribution of Ferrari shares

Even if you can't afford an actual Ferrari, soon you can own a part of the famous company thanks to its upcoming initial public offering. FCA will put 10 percent of the Prancing Horse on the market in the third quarter of this year. However to reap extra money for 2015's bottom line, the rest of the sports-car maker's stock will remain undistributed for a little longer. According to Automotive News, the strategy is quite simple to understand. FCA is holding off until the first quarter of 2016 to divvy up the remaining Ferrari stock to shareholders. By doing so, the automaker gets to claim 80 percent of the Prancing Horse's profits for its 2015 financial numbers. While FCA is already showing strong results through Q1 2015, being able to add extra cash on the balance sheet is always a plus. FCA hasn't set a specific date for the IPO, but Ferrari stock was announced to be traded in the US and possibly on a European exchange, as well. According to Automotive News, FCA currently owns 90 percent of the company, and Piero Ferrari has the remaining 10 percent, which he isn't selling. Related Video:

F1's Vettel leads, Verstappen and Grosjean crash at Silverstone

SILVERSTONE, England — Ferrari's Sebastian Vettel pushed Formula One title rival and home race favorite Lewis Hamilton off the top of the British Grand Prix practice timesheets on Friday while Max Verstappen crashed. Hamilton, winner for the past four years at Silverstone, had started the day by leading a Mercedes one-two in the sunny opening session. Vettel, who leads the Briton by a point in the championship after nine races, put in a lap of 1 minute 27.552 seconds in the afternoon to end the session 0.187 faster than his fellow-four-times world champion. That was still slower than Hamilton's morning time of 1:27.487, however, with Vettel third then and half a second slower. Hamilton's Finnish teammate Valtteri Bottas, with a new engine in his car after last weekend's mechanical retirement in Austria, was second and third fastest respectively in the two sessions. Australian Daniel Ricciardo and Kimi Raikkonen traded fourth and fifth places while Max Verstappen, winner in Austria for Red Bull, was sixth in the morning but crashed after lunch without setting a time. The 20-year-old Dutchman had ended the first session early after he was told to stop the car. Haas's Romain Grosjean had a heavy crash at the fast first corner, slamming into the tire barriers after failing to close the drag reduction system (DRS), in the morning and did not take part in practice two. "The car is destroyed," the Frenchman, who was unhurt in the impact, said over the radio. "I'm very, very sorry guys. I think it was the bump. I missed the (DRS) button." Team boss Guenther Steiner said the team needed to rebuild the chassis. Grosjean's team mate Kevin Magnussen and McLaren's Fernando Alonso were called to see stewards for a "potentially dangerous maneuver" after an incident between them early on but stewards ruled there was no further action needed. "Magnussen tried to hit me two times - in one and three," Alonso reported over the radio. "Very dangerous."Reporting by Alan BaldwinRelated Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Image Credit: Reuters Motorsports Ferrari Mercedes-Benz Racing Vehicles F1 Lewis Hamilton Sebastian Vettel Kimi Raikkonen silverstone Max Verstappen british grand prix Romain Grosjean

2015 Spanish F1 Grand Prix makes its Deutsche mark

The first race of the European Formula One season inaugurates the second phase of the Championship. Teams overhaul their cars with the big updates they've been working on since Australia, and at the end of The Battle of Spain we find out how the positions on the field have changed. Mercedes-AMG Petronas driver Nico Rosberg brought a big update to his psychology, straight-up beating teammate Lewis Hamilton to take his first pole position of the season. Mercedes owns the front row and Ferrari maintains its status as primary challenger, Sebastian Vettel lining up in third. Williams proved it's been hitting the books to do better in class, though, Valtteri Bottas slotting into fourth. And Toro Rosso's visit to a track that rewards strong aero rewarded them with the best team grid position since the Italian Grand Prix in 2008: Carlos Sainz secured fifth, ahead of Max Verstappen in sixth. Kimi Raikkonen's bout of Saturday woes – it seems the Finn is always handicapped by lots of tiny issues – continued in Barcelona with one of his sets of prime tires getting cooked by malfunctioning tire warmers. He recovered well enough to take seventh on the grid, but he's got some strong competition ahead of him. He led three other drivers in the Continuous Issues department, Daniil Kvyat unable to wrestle his Infiniti Red Bull Racing higher than eighth, Williams driver Felipe Massa getting it wrong in Turn 3 to fall five places behind his teammate Bottas, and Daniel Ricciardo in the second Red Bull enduring another engine change and sloppy car behavior to get tenth. And while it turned out to be a steady race a little rough around the edges, the positions on the battlefield just might have changed. A little. Of the 66 laps in the race we might have seen Rosberg for three of them – maybe. The German got a smashing start, had a clear lead into Turn 1, and after that we checked in occasionally during his two pit stops and again at the checkered flag. He owned the entire weekend the way we're used to seeing his teammate do, and the cameras left him alone to run his race. No one got within seven seconds of him during the first third, and as the pit stop strategies played out that cushion grew. He finished seventeen seconds ahead of Hamilton, and 45 seconds ahead of third-placed Vettel. Hamilton, on the back foot all three days, stumbled out of the gate.