Ferruccio Sells Control of The Company
The entire Lamborghini group was now finding itself in financial troubles. Development at the automaker slowed; the production version of the LP 500 missed the 1972 Geneva Show, and only the P400 GTS version of the Jarama was on display. Faced with a need to cut costs, Paulo Stanzani set aside the LP 500's powerplant, slating a smaller, 4-litre engine for production. Ferruccio Lamborghini began courting buyers for Automobili; he entered negotiations with Georges-Henri Rossetti, a wealthy Swiss businessman and friend of Ferruccio's, as well as being the owner of an Islero and an Espada. Ferruccio sold Rossetti 51% of the company for US$600,000, thereby relinquishing control of the automaker he had founded. He continued to work at the Sant'Agata factory; Rossetti rarely involved himself in Automobili's affairs.
Read more about this topic: Lamborghini Insecta, History, 1963-1972, Original Owner, 1972
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