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Ferrari-Maserati dealer folds in Las Vegas casino

The ten-year-old Penske Ferrari Maserati dealership located inside the Wynn resort in Las Vegas, where non-Ferrari owners had to pay $10 to walk among the cars, is closed. Word is that the Ferrari franchise is moving to Towbin Motorcars, which you'll know for being the home of the former "King of Cars," and more recently where Floyd "Money" Mayweather has bought 100 cars, including three Bugatti Veyrons. According to Ferrari Chat almost the entire Penske-Wynn staff will make the move, including the highly regarded service department. This being Las Vegas there are, naturally, various theories about why the only Ferrari franchise in the state of Nevada is leaving one of the state's marquee locations. We got a tip a month ago from reader Johnny Autos that Ferrari pulled the franchise, and if there is any truth to that, rumors at Ferrari Chat suggest it part of the reason could have been Steve Wynn flipping his LaFerrari before the 18-month no-sale period had elapsed. Wynn supposedly sold his $1.5 million supercar to Naples Motorsports in Florida for $3.5 million, Naples is asking $5 million for it and using it for the elementary school run in the meantime. On the other hand, Vegas Tripping says Wynn is letting the dealership go in order to get ready for the Alon – another casino – to open across the street in three years. That story believes Wynn will build a pedestrian bridge and rearrange shops on the Wynn side so that customers enjoy the kind of grand entry he would want. And then there's the theory that Penske is getting out of the Ferrari dealership business to focus on commercial trucks. No matter where the truth is in all of this, what matters to you is that you won't be able to spend $10 to check out Ferraris on the strip anymore. Which means more money for the penny slots.

Michael Schumacher’s championship 2002 Ferrari F2002 set for auction

RM Sotheby's November auction in Abu Dhabi might still be months away, but Formula 1 just gave racing fans a huge reason to get excited for the event now. F1 and Sotheby's announced 10 early entries for the auction, and the most special of the bunch is the 2002 Ferrari F2002, Michael Schumacher's championship-winning race car. Schumacher dominated the field throughout the 2002 F1 season by finishing first or second in every race. That season, he won in Australia, Brazil, San Marino, Spain, Austria, Canada, Great Britain, France, Germany, Belgium and Japan. Schumacher didn't use this exact car, chassis No. 219, for every race, but it is the vehicle he was driving when he won at the French Grand Prix, where he secured his fifth drivers' championship title (his teammate Rubens Barrichello took second but had about half as many points as Schumacher). Ferrari, having won all but two races that season, also took the constructors' championship that year. After its time in competitive racing, 219 was used as a test car for the remainder of the 2002 season before eventually retiring the next season. Since then, it has been owned by various private collectors. The F2002 was an absolute force of a machine. It used a 299.66-cc 90-degree V10 that made 823 horsepower at 17,800 rpm that paired with a fused titanium seven-speed gearbox. The car's structure was a honeycomb and carbon-fiber composite monocoque. Steering was mechanical power-assisted rack-and-pinion. It also had carbon-ceramic composite brakes and a suspension setup with independent push-rods, twin wishbones, torsion bar springs and telescopic shock absorbers. So how valuable is a car with this much history? Well, a 2013 Gooding & Company auction at Pebble Beach offered F2002 chassis No. 220, and it sold for $2,255,000. We expect this car to easily surpass that number. However much it sells for, RM Sotheby's says "a percentage of proceeds" will go to the Keep Fighting Foundation, which is inspired by Schumacher. Mark the date on your calendar: November 30, 2019.

Montezemolo says he has "no good news" on Schumacher

Former Ferrari president Luca di Montezemolo said on Thursday that he has "no good news" about Michael Schumacher's condition. Speaking to journalists on stage in Milan at the Quattroruote Day, where he was awarded the Premio Gianni Mazzocchi in memory of the newspaper's founder, di Montezemolo was asked about the seven-time world champion. And more than two years on from the skiing accident that left Schumacher with serious head injuries, di Montezemolo suggested there had been no positive developments. "I have unfortunately not good news," di Montezemolo said on stage. "Michael was a great driver, and we experienced a long time together in both our personal and professional lives. But life is really strange. "He was the most successful driver of Ferrari and in his career he had only one accident, in 1999. But unfortunately a fall in a ski accident has had serious consequences." The Schumacher family has kept details of the German's conditions a closely guarded secret, although has made it clear that he faces a long recovery. Earlier on this year, Schumacher's manager Sabine Kehm slammed as 'irresponsible' a report that he was able to walk again. "Such speculation is irresponsible, because given the seriousness of his injuries, his privacy is very important for Michael," she said. "Unfortunately they also give false hopes to many involved people." This article by Jonathan Noble originally appeared on Motorsport.com, the world's leader in auto racing news, photos and video. Image Credit: AFP via Getty Images Celebrities Motorsports Ferrari F1 michael schumacher luca di montezemolo