Ferrari prepared to break bank to get Newey 19 May, 2014 4 Adrian Newey in high demand Luca di Montezemolo has hinted that he will increase Ferrari’s Formula One budget in order to catch up with dominant Mercedes, including upping their offer to lure Adrian Newey to Maranello. The fabled Italian marque has struggled early this season, prompting the exit of team boss Stefano Domenicali. But recent reports suggest Ferrari is now prepared to ‘break the bank’ to woo Formula 1’s highest-paid engineer, Newey, to the team. Ferrari can afford him. The Financial Times reports that the company recorded “record revenues, profits and cash flow” last year, with net profit up to €246 million. Montezemolo is quoted by La Gazzetta dello Sport as saying that while the exclusivity of Ferrari road cars remains a priority, that is a challenge “given heavy investment and Formula 1, which requires an exceptional effort economically to recover the gap to the opposition”. Luca di Montezemolo Spain’s El Mundo Deportivo reports that one Ferrari recruit is to be the retired 68-year-old Jean-Jacques His, an engine expert best known for leading Renault’s technical efforts during the French manufacturer’s dominant era. Red Bull team boss Christian Horner is only too aware of how much rivals covet Newey, “It is almost an annual thing that there is speculation about his future. But he has always made clear his feeling towards the team, the paternal feeling he has for Red Bull.” “He has been involved since the beginning and he is much more involved in this team than he has been at any other. He enjoys the environment that he is working in so I think the speculation is purely that, but you can understand why Ferrari would be looking,” added Horner. (GP247-GMM) Subbed by AJN. Content on GrandPrix247.com by: staff & contributors, Reuters syndication, GMM service, Getty Images, Formula 1 teams, sponsors & organisations.