(CNN) -- Formula One teams may try to take control of the elite motorsport when the rights agreement expires at the end of 2012, Ferrari president Luca di Montezemolo told CNN in an exclusive interview. Bernie Ecclestone has run F1 on behalf of CVC Capital Partners since selling his rights in 2006, but speculation is growing that the Concorde Agreement -- the settlement between the private equity firm and the teams -- will not be renewed. Last month, media mogul Rupert Murdoch's News Corporation and Italian investment firm EXOR released a statement confirming they were "formulating a long-term plan for the development of Formula One in the interests of the participants and the fans."
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Ferrari president says F1 needs to take a new direction when rights deal expires
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Luca di Montezemolo hints that teams may not renew agreement with CVC
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He points to example of NBA, which is run by the basketball competition's franchises
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Italian says Ferrari would pull out of F1 if it develops in the wrong direction
@placeholder hopes to continue the expansion that Ecclestone helped to usher in.