Jul.25 (GMM/Inautonews.com) Luca di Montezemolo has credited F1 legend Michael Schumacher as he was inducted into the Automotive ‘Hall of Fame’ in Detroit.

“I don’t know if I would have received this award without him,” said the former long-time Ferrari president, according to Italy’s La Gazzetta dello Sport.

“It is dedicated to him, because he is trying to win his toughest race.”

Montezemolo is referring to former Ferrari driver and record-holding seven-time world champion Schumacher’s ongoing recovery from a late-2013 skiing fall.

“He was not only someone I worked with but above all a friend with whom I shared so much. To know that he now lies in bed for such a long time is very sad,” he admitted.

Meanwhile, Montezemolo offered a few tips to a modern formula one that is struggling to hold the imagination of the public.

“More speed,” he answered, “lower costs, different regulations to make them more understandable for the fans and to improve the show.

“Because you cannot run a grand prix in July or August at two in the afternoon when people want to be on the beach,” Montezemolo added.