Ferrari S.p.A. is an Italian sports car manufacturer based in Maranello, Italy. Founded by Enzo Ferrari in 1928 as Scuderia Ferrari, the company sponsored drivers and manufactured race cars before moving into production of street-legal vehicles in 1947 as Ferrari S.p.A.. Throughout its history, the company has been noted for its continued participation in racing, especially in Formula One, where it has enjoyed great success. Ferrari was founded as an independent company by Enzo Ferrari. During the 1960s, the company was in financial difficulty, and Mr Ferrari announced his intention to sell... the company to ensure continued financial backing. Interest from the Ford Motor Company was rejected in favour of an offer from the Fiat Group, which took control of the company's sports car division in 1969. Enzo Ferrari retained control of the racing division until his death in 1988 at the age of 90. In 2007 the Financial Times put Ferrari at the top of its list of 100 Best Workplaces in Europe.