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05-13-2009, 07:38 AM
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Ferrari threatens to quit Formula One
By Roger Blitz and James Allen
Published: May 12 2009 20:15 | Last updated: May 12 2009 20:15
Ferrari has threatened to quit Formula One (http://www.formula1.com/) if motorsport’s world governing body goes ahead with a budget cap and a two-tier system for regulating team cars.
The directors of the Italian national team, the only constructor to have been involved in the F1 world championship since it began in 1950, accused the Fédération Internationale de l’Automobile of disregarding the rules of the sport over the past 25 years and its contractual obligations to Ferrari.
Its threat amounts to a showdown between F1’s big names: Max Mosley, the president of the FIA, and Luca di Montezemolo, Ferrari (http://www.ferrari.com/English/Pages/Home.aspx)’s chairman. Mr Mosley inflamed the Italian team’s ire in an interview with the Financial Times two weeks ago when he said “the sport could survive without Ferrari” (http://www.ft.com/cms/s/0/58314930-3678-11de-af40-00144feabdc0.html).
Few observers expect Ferrari to carry out its threat, saying the showdown amounts to a battle for control of F1.
Mr Mosley intends to press ahead with a $40m cap on teams’ expenditure next year, claiming the future of the sport is at stake (http://www.ft.com/cms/s/0/38a89c10-36b1-11de-af40-00144feabdc0.html) unless drastic measures are taken to rein in the excessive spending in recent years by manufacturer-backed teams such as Honda (http://markets.ft.com/tearsheets/performance.asp?s=jp:7267), BMW (http://markets.ft.com/tearsheets/performance.asp?s=de:BMW), Toyota (http://markets.ft.com/tearsheets/performance.asp?s=jp:7203), Mercedes and Renault (http://markets.ft.com/tearsheets/performance.asp?s=fr:RNO).
The global economic downturn (http://www.ft.com/indepth/global-financial-crisis)has already forced Honda to withdraw from F1, and Mr Mosley wants to make it easier not just for independent teams to stay in F1 but for others to enter.
He also intends to create a two-tier F1, by which teams can opt to spend unlimited amounts of money on developing their cars but will lose technical freedoms enjoyed by teams opting to have their budgets capped.
Ferrari, which is struggling in the current world championship, said the same rules for all teams and stability of F1’s regulations were the priorities for the future, as were the measures taken collectively by F1 teams to reduce costs methodically and progressively.
It said: “If these indispensable principles are not respected and if the regulations adopted for 2010 will not change, then Ferrari does not intend to enter its cars in the next Formula One world championship”.
The directors added they were disappointed at the methods taken by the FIA to reach its budget cap decision and its “refusal to effectively reach an understanding with constructors and teams”.
Ferrari threatens to quit Formula One
By Roger Blitz and James Allen
Published: May 12 2009 20:15 | Last updated: May 12 2009 20:15
Ferrari has threatened to quit Formula One (http://www.formula1.com/) if motorsport’s world governing body goes ahead with a budget cap and a two-tier system for regulating team cars.
The directors of the Italian national team, the only constructor to have been involved in the F1 world championship since it began in 1950, accused the Fédération Internationale de l’Automobile of disregarding the rules of the sport over the past 25 years and its contractual obligations to Ferrari.
Its threat amounts to a showdown between F1’s big names: Max Mosley, the president of the FIA, and Luca di Montezemolo, Ferrari (http://www.ferrari.com/English/Pages/Home.aspx)’s chairman. Mr Mosley inflamed the Italian team’s ire in an interview with the Financial Times two weeks ago when he said “the sport could survive without Ferrari” (http://www.ft.com/cms/s/0/58314930-3678-11de-af40-00144feabdc0.html).
Few observers expect Ferrari to carry out its threat, saying the showdown amounts to a battle for control of F1.
Mr Mosley intends to press ahead with a $40m cap on teams’ expenditure next year, claiming the future of the sport is at stake (http://www.ft.com/cms/s/0/38a89c10-36b1-11de-af40-00144feabdc0.html) unless drastic measures are taken to rein in the excessive spending in recent years by manufacturer-backed teams such as Honda (http://markets.ft.com/tearsheets/performance.asp?s=jp:7267), BMW (http://markets.ft.com/tearsheets/performance.asp?s=de:BMW), Toyota (http://markets.ft.com/tearsheets/performance.asp?s=jp:7203), Mercedes and Renault (http://markets.ft.com/tearsheets/performance.asp?s=fr:RNO).
The global economic downturn (http://www.ft.com/indepth/global-financial-crisis)has already forced Honda to withdraw from F1, and Mr Mosley wants to make it easier not just for independent teams to stay in F1 but for others to enter.
He also intends to create a two-tier F1, by which teams can opt to spend unlimited amounts of money on developing their cars but will lose technical freedoms enjoyed by teams opting to have their budgets capped.
Ferrari, which is struggling in the current world championship, said the same rules for all teams and stability of F1’s regulations were the priorities for the future, as were the measures taken collectively by F1 teams to reduce costs methodically and progressively.
It said: “If these indispensable principles are not respected and if the regulations adopted for 2010 will not change, then Ferrari does not intend to enter its cars in the next Formula One world championship”.
The directors added they were disappointed at the methods taken by the FIA to reach its budget cap decision and its “refusal to effectively reach an understanding with constructors and teams”.