Former F1 team principal Flavio Briatore fears the Coronavirus crisis will lead to major Italian companies being taken over. The Italian believes the aftermath of COVID-19 will result in the Chinese buying the majority of Italian brands. Briatore also couldn’t resist taking a shot at Bernie Ecclestone, who is set to become a father again.

Briatore fears for Italian brands

During the early outbreak of Coronavirus, Italy was the worst affected after China. The European nation recorded a spike in cases which resulted in the country going into complete lockdown. As a result, several industries have taken a major hit.

Even before F1 officially canceled the Australian Grand Prix, Ferrari was in serious trouble. The Scuderia had no access to its factory and headquarters in Maranello due to the lockdown. Briatore joked about the Chinese taking charge of Italian companies once Cornoavirus subsides.

Speaking to Corriere della Sera, Briatore said:

“I’m at home like most people, videoconferencing with my colleagues. I enjoy the time with my son Nathan Falco. I tell him that he is lucky to be alive. It is important to give him values to take with him”.

The Italian is a savvy businessman and owns many restaurants across Europe.

They’re all closed, of course. But the corona crisis is a disaster for the whole economy, not just for the catering industry. If this continues, the Chinese will buy the best companies in Italy in a few months’ time” 

“This virus is forcing us to reconsider. We need to anticipate it, not just react to it. [We] have to learn to live with the coronavirus”

“We have to minimize the impact because our lives have changed forever.”

The 70-year-old couldn’t resist taking a sly dig at Former F1 boss Bernie Ecclestone. Ecclestone is set to become a father again at 89, which didn’t sit down too well with the F1 community. 

“Today I comfort myself with the thought that Bernie Ecclestone will be a father again at the age of 89,” 

“At first I thought it was a joke.”

2020 F1 season down another race

F1 recently announced the postponement of the Canadian Grand Prix. The sport is now down 9 races without having completed a single lap in 2020.  Experts believe the season will resume by July but there’s no concrete evidence of the same.