 Chairman Tony Teixeira announced in October 2007 that Italian manufacturer Ferrari would design and build the engines for six years, and that Ferrari would consult in the design and manufacture of the car.The Ferrari involvement was intended to ease some of the concerns regarding A1GP's ongoing financial viability, the continued input of existing backers, and the platform's ability to attract sponsors.CEO Pete da Silva reported a loss for the initial season, and yet RAB Capital paid $200 million to the exiting Dubai founder for his 80% stake.