Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Seven African countries' economies at risk over Brexit decision

Read more

THE DEBATE

Britain votes out: What next?

Read more

#TECH 24

The 'fintech' revolution

Read more

FRANCE IN FOCUS

A certified 'palace': How hotels strive for excellence

Read more

#THE 51%

In her own image: Women in Art

Read more

REPORTERS

World War I: When northern France was on German time

Read more

REVISITED

Video: Ugandan city still scarred by Lord's Resistance Army atrocities

Read more

MEDIAWATCH

#Brexit sparks a storm on social media

Read more

BUSINESS DAILY

Markets, pound plunge on Brexit vote

Read more

Ferrari threatens to quit over budget cap rules

Latest update : 2009-05-12

Ferrari has threatened to quit Formula One at the end of the season if the International Automobile Federation (FIA) adopts a budget cap for 2010. Ferrari is the sport's oldest and most successful team.

REUTERS - Ferrari will quit Formula One at the end of season if the sport adopts a budget cap for 2010, the champions said on Tuesday after a board meeting. "No F1 in 2010 if the rules do not change. Ferrari confirms its opposition to the new rules imposed by FIA and does not intend to register cars for the 2010 F1 world championship," a statement said.

Toyota and Red Bull have already threatened not to enter next year's championship unless the new rules published by the governing International Automobile Federation (FIA) are changed.

The FIA, headed by Max Mosley, want to introduce an optional 40 million pound ($60.7 million) budget cap next year to encourage new teams to enter.

The plan would allow capped teams to operate with far greater technical freedom than those continuing with unlimited budgets.

Ferrari's president Luca di Montezemolo, head of the Formula One Teams' Association (FOTA), has warned it would create a two-tier championship that could be "fundamentally unfair and perhaps even biased".

The FIA has set a deadline of May 29 for teams wishing to compete in 2010 to enter and state whether they want a cap or not.

Ferrari, the sport's oldest and most successful team, also threatened a pullout in October if proposals for a standard engine for all teams went ahead.

 

Date created : 2009-05-12

COMMENT(S)