Di Montezemolo is an influential figure in Formula 1

Ferrari president Luca di Montezemolo suggests Formula 1 teams could take control of the sport when the rights agreement with current owners CVC Capital Partners expires at the end of 2012. News Corporation and Italian investment firm Exor are working on a possible bid to take control of Formula 1 and Di Montezemolo it would be one of three possible options available for the teams in the future.Full story: CNN.com

Di Montezemolo adds Felipe Massa will still be with the Italian team next season. "He has a contract with us for this year [and] for next year. So absolutely yes, no question about it." He adds that Alonso is "one of the best drivers I've seen" and he wants the Spaniard to stay at Ferrari for a "long time". Full story: CNN.com

Meanwhile, Formula 1 teams will reject an offer from FIA president Jean Todt to bring back limited in-season testing next season because it will cost too much money. Full story: Autosport

Todt has abandoned plans to create a Formula 1 commissioner because commercial rights holder Bernie Ecclestone effectively does the job already. The former Ferrari team principal campaigned for a commissioner during the FIA presidency election in 2009, but was forced to reconsider his pledge. Full story: Eurosport

Rubens Barrichello says his Williams team are pushing to make updates available for the Spanish Grand Prix next Sunday. "I am sure it will make the car better..." he says. Full story: Rubens Barrichello on Twitter

Pirelli motorsport director Paul Hembery says the reaction to his company's return to F1 has been "quite extraordinary". The Italian company's tyres have been credited with creating a more exciting championship this season. Full story: Formula1.com

McLaren team principal Martin Whitmarsh says Lewis Hamilton may need to reassess his aggressive driving style in order to preserve his tyres this season.Full story: Crash.net

Sauber are set to introduce a number of updates to their C30 car for the Spanish Grand Prix, including a new front wing and a further experimentation of the 2011-style blown diffuser. Full story: Eurosport

This story will be updated throughout the day

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