Ferrari threatens to quit F1

ferrari-threatens-to-quit-f1

Ferrari may quit Formula One at the end of this season unless a proposed plan to cap budgets is withdrawn.

“We confirm our opposition to the new technical regulations adopted by the FIA and do not intend entering our cars in the 2010 F1 Championship,” said a statement from the team’s website.

F1 bosses want the sport to be cheaper for new teams, so have asked teams to only spend £40 million ($61.27 million) per season.

The cap would cover everything except marketing, driver pay, fines or penalties, engine costs, and any costs that teams can prove have no bearing on its performance in the championship.

Ferrari believes this would lead to a two-tier competition that would be “fundamentally unfair and perhaps even biased”. The team’s bosses also believe that they have been put at a disadvantage this year by unclear technical regulations. After five races, they are only in seventh place.

Toyota and Red Bull have already threatened not to enter next year’s championship unless the new rules published by the FIA are changed.