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TELLURIDE – The story of the Ford Motor Company’s attempt to overtake Ferrari’s dominance at the legendary 24 Hours of Le Mans race has already been written. You can find the historical details quite easily and quickly if you really want to. Despite that obvious knowledge James Mangold, using a screenplay by Jez Butterworth, John-Henry Butterworth and Jason Keller, has managed to accomplish what only the best historical dramas do with “Ford v Ferrari” , keep you at the edge of your seat. That may seem like an obnoxious attempt by a critic for a pull quote, but when you are watching a race that took place over 50 years ago literally on the edge of your seat, genuinely nervous over the outcome it seems highly appropriate, don’t you think?

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What Mangold has pulled off with his latest 20th Century Fox production isn’t just an exhilarating re-telling of Carroll Shelby (Matt Damon, quite good) and Ken Miles‘ (Christian Bale, transformative) years of racing cars at Daytona, Le Mans and on a makeshift LAX racetrack. “Ford v Ferrari” is a film about friendship, the love of a father and his son, American ingenuity (although less than you’d expect) and, most unexpectedly, the evils of corporate marketing. Anyone who refers to it as the “perfect Dad movie” is simply not giving the filmmakers involved enough credit. You can detest auto racing and still be swept away with the events on screen.

Essentially a Damon and Bale two-hander, the picture begins with Shelby learning that his beloved racing career is over after a doctor tells him his high blood pressure has taken a serious health toll. His buddy Miles is a British race car driver living in LA his wife Mollie (Caitriona Balfe, transcends her material) and son Peter (Noah Jupe, superb) by his side. Miles earns his living as a mechanic but isn’t particularly good at the business aspect of it (the IRS pay a visit early on) and is something of a handful for anyone dealing with him on a racetrack. He’s a character only those around him have the patience to put up with.

In Detroit, Lee Iacocca (Jon Bernthal, solid) and his fellow executives at Ford are under pressure from the big boss, Henry Ford II (Tracy Letts, scene stealing), to come up with new ideas for the flagging automaker. Iacocca suggests acquiring Ferrari, close to bankruptcy at the time, to spice up Ford’s boring, cookie cutter image. When Ferrari founder Enzo Ferrari plays his American counterpart to land a bigger offer from Fiat, Ford II decides to exact some revenge. His goal? Overtake the Italian car company on their home turf, the international racing circuit and, in particular, Le Mans. It also doesn’t hurt that the endeavor is tailor made for their new Mustang sportscar either.

Shelby is recruited by Iacocca to head Ford’s efforts, but soon discovers an endless line of executives surrounding Ford II that can’t help but meddle in an aspect of the business they simply have little expertise in. At the center of all of this is the mecurial Miles. Despite his design and racing skills, Ford II’s right hand man Leo Beebe (Josh Lucas, found his calling as a villain), simply cannot see Miles as the face of Ford in the winner’s circle. This forces Shelby to try and play middleman without sending his longstanding friendship into a tailspin. The drama between the two men is real and quite complicated.

And, of course, there’s lot of tension on the track and in the garage, as well. Yes, “Ford v Ferrari” goes into great detail on how Shelby, Miles and the rest of their team modify the Ford GT40 to take out Ferrari. Lots of jargon is tossed around but Mangold finds ways to make it entertaining even when you really don’t understand what anyone is referring to. And the race sequences? Well, they simply don’t disappoint.

Working with cinematographer Phedon Papamichael and editors Michael McCusker and Andrew Buckland, Mangold puts on a master class in filmmaking. He puts the audience in Miles’ seat as our hero goes for the checkered flag at Daytona and eventually crosses the Atlantic the biggest race of his career. The film is breathtakingly edited to keep even the least interested auto racing fan riveted to the proceedings. This is also where longtime Mangold contributor composer Marco Beltrami slightly underwhelms. For a film that has so much score it’s often forgettable and the movie’s tension is instead driven by everything else seen or heard on screen (the sound design is fantastic).

As hinted at earlier, “Ford v. Ferrari” is also something of a tearjerker. The close friendship between Shelly and Miles is expertly played by both Bale and Damon as they convey a pair who have been through hell and back without Mangold having to resort to any sort of flashbacks to set up the character’s sometimes tempestuous interactions. Bale and Jupe also have a natural rapport that assists the former in giving Miles a depth that could have been lost with any other actor.

That being said, Mangold’s commitment to Miles’ relationship with his family is a bit indulgent and the corporate squabbling is perhaps slightly overplayed. Maybe in hindsight he could have taken a turn or two a little tighter here and there. But as a whole, “Ford v Ferrari” is the sort of cinematic entertainment that sucks you and won’t let you go until you cross the finish line. [A-]

“Ford v Ferrari” opens nationwide on Nov. 15.

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