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Alfa Romeo may have problems fulfilling its product and production targets, but that has not stopped Sergio Marchionne from dreaming of Formula One. We most recently heard about Alfa Romeo and F1 in December, and the FCA boss has now revealed his vision for an “Alfa Romeo F1 Team” backed by Ferrari.

Last year, Motorsport.com reported that discussions took place between Red Bull and Ferrari about the former running rebadged “Alfa Romeo engines” as early as this season. That fell through, however, and RBR instead elected to persevere with Renault engines for another year.

But if Marchionne gets his way, Alfa Romeo will join the sport as a full-fledged manufacturer, supported by the Scuderia. Speaking to Italian paper Gazzetta dello Sport last week about the frenzy caused by comments he made in December, the Ferrari chairman said: “What frenzy? In order to restore their name they [Alfa Romeo] must consider returning to Formula 1. They would probably work with Ferrari.”

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A rebadged “Team B” Ferrari? “Alfa Romeo are capable of making their own chassis, just like they are capable of making their own engine,” Marchionne said. An Alfa-Ferrari team may sound unlikely, but it shouldn’t be ruled out.

“People struggled to imagine Red Bull working with Ferrari! I say that because people criticise me for not giving them an engine. I agree with people that say that Red Bull were too tough on their engine suppliers, but in the end this sport must continue. The important thing is to have other large manufacturers enter the sport,” Marchionne commented.

How about sports car racing? Le Mans? “I would rather see them in F1,” the Italian responded.

Late last month, it was confirmed that Alfa Romeo’s revival business plan will take two years longer than planned to complete, and an ambitious volume target has been dropped. Full story on Alfa Romeo, the Giulia and other upcoming models here.