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Ferrari worth over $11 billion, says Marchionne ahead of IPO

We all know that cars from Ferrari sell for hundreds of thousands, if not millions of dollars. But how much is Ferrari worth as a company? At least ten billion, according to its chairman. Speaking at the launch of the revised Fiat 500 in Turin on Friday, Fiat Chrysler CEO and Ferrari chairman Sergio Marchionne said he expected the vaunted Maranello-based supercar manufacturer and racing team to be valued at over 10 billion euros, or about $11 billion at current exchange rates. As Bloomberg points out, that would make Ferrari alone account for some 60 percent of the value of its parent company Fiat Chrysler Automobiles, which is currently valued at over 16 billion euros. That may seem like an aggressive estimate, but we won't have to take Marchionne at his word for long. After having floated an Initial Public Offering on the New York Stock Exchange last year, Fiat Chrysler is preparing to do the same with its Ferrari unit as soon as October. FCA will not, of course, be selling off all of its shares. The projected scheme would have ten percent (worth about one billion by Marchionne's estimates) of Ferrari's shares floated on the NYSE. Another 10 percent is expected to remain in the hands of founder Enzo's son (and company vice chairman) Piero Ferrari's hands. The remaining 80 percent is slated to be distributed among Fiat Chrysler's existing stakeholders.

Race Recap: 2014 Austrian Grand Prix is old-school front row, new-school racing

The last time Formula One raced in Spielberg, Austria the track was called the A1 Ring, Juan Pablo Montoya and Ralf Schumacher were the pilots for Williams, the field contained other not-so-venerable names like Ralph Firman and Justin Wilson and V10 engines were bolted to the bulkheads - the only Mercedes units being in the backs of the two McLarens, one of which was driven by Kimi Räikkönen, who finished second behind Michael Schumacher.
The return to an old-school Formula One track - now called the Red Bull Ring - after 11 years away put an old-school team on the front row, Felipe Massa in a Williams getting his first pole position since 2008, followed by teammate Valtteri Bottas. Behind them came Nico Rosberg in the first Mercedes AMG Petronas, Fernando Alonso in the Ferrari, Daniel Ricciardo for Infiniti Red Bull Racing, Kevin Magnussen for McLaren, Danil Kvyat in his Toro Rosso, Räikkönen in the second Ferrari, Lewis Hamilton in the second Mercedes way back in ninth - he'd spun on his final timed lap after having his previous effort disqualified for going wide at Turn 8 - Nico Hülkenberg in the Force India in tenth after opting not to set a time at all in Q3.
It's a shame the well of nostalgia wasn't deep enough to give us some proper old-school racing.

Watch team build life-size Ferrari F1 car from Lego bricks

Following up on the company's recent replica of a McLaren 720S, Lego has moved on to that company's Formula One rival, Ferrari, to build another full-scale model. And the car is in fact Ferrari's 2017 F1 race car, and it has even more Lego content. For this model, even the wheels and tires are made of the studded plastic bricks. You can watch Lego employees bring the car together from its development and planning stages all the way through construction. The video also reveals many interesting tidbits about the car. For instance, the model weighs less than the real thing. It's 1,250 pounds. The actual Ferrari SF70H weighs 1,605 pounds, though that includes coolant, oil, and the driver. The model also features nearly 350,000 pieces, which is about 70,000 more than the McLaren had. It took about 750 hours to assemble the car, not including over 840 hours to design and develop it. You'll also see that even this massive Lego model still has stickers to apply, and considering how tricky the little stickers can be on perfectly smooth surfaces, placing theses huge ones over bumpy ridges must've been quite difficult. Related Video: Image Credit: Lego Toys/Games Ferrari Racing Vehicles Videos F1 Lego ferrari f1