Italian sports magnate Gianni Agnelli dies

MILAN, Italy, Jan. 24 (UPI) -- Gianni Agnelli, an Italian tycoon who was a major force in establishing Ferrari's preeminence in Formula One racing and the supremacy of Juventus in Italian soccer, died Friday of prostate cancer. He was 81.

Agnelli was the grandson of FIAT's founder and played a significant part in establishing the company as an Italian industrial giant.

Nicknamed 'L'avvocato,' Agnelli then used his fortune to help Ferrari win a record 160 Grand Prix and 12 constructors' championships, and Juventus capture an Italian League-best 26 titles as well as a pair of European Cups.

"Every time we met, I was made aware of his great understanding and interest in Ferrari, Formula One and soccer, as well as his sensitivity to the problems of the world," said Formula One world champion Michael Schumacher, who has won the last three of his five titles with Ferrari.

"I attribute Ferrari's success to him, knowing full well what a fundamental role he played in achieving it," Ferrari president Luca Cordero di Montezemolo said.

A passionate Juventus fan, Agnelli became president of the club in 1947. Juventus captured the 1950 and 1952 titles before he stepped down in 1954. Agnelli remained honorary president and was involved closely with the running of Juventus.

"His actions have been decisive in making Juventus one of the great football clubs in the world," Italian Football Federation president Franco Carraro said.

The Agnelli family also was instrumental in Turin's successful bid to host the 2006 Winter Olympics.