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Todt -- president of the sport's ruling body, the International Motoring Federation (FIA) -- was Ferrari director when Schumacher won five of his seven world titles, and remains a close friend to the German driver and his family.
In a dramatic overhaul revealed in Austin on Thursday, the American owners of the commercial rights, Liberty Media, introduced budget caps, a new car and rules designed to develop closer and more environmentally-friendly racing.
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