Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Apparent beheading of Steven Sotloff sees more calls for #IsisMediaBlackout

Read more

AFRICA NEWS

Lesotho Coup: Exiled Prime Minister vows to return home after fleeing

Read more

DEBATE

Child Migrants In America: What to do about the wave of unaccompanied minors? (Part Two)

Read more

DEBATE

Child Migrants In America: What to do about the wave of unaccompanied minors?

Read more

THE INTERVIEW

Abbas Araghchi, Iranian deputy foreign minister

Read more

THE OBSERVERS

More of this year's best Observers stories

Read more

FOCUS

When water becomes a weapon of war

Read more

ENCORE!

Eve Ensler: 'In The Body Of The World'

Read more

THE INTERVIEW

Ed Husain, Author of 'The Islamist'

Read more

  • IS video purports to show beheading of second US journalist

    Read more

  • Obama orders 350 more US troops to Baghdad

    Read more

  • Video: Bodies ‘left behind’ as Ukraine forces flee rebel assault

    Read more

  • France vows crackdown on unemployment benefit ‘abusers’

    Read more

  • Frenchwoman reunited with daughter kidnapped by Syria-bent father

    Read more

  • Trust and 'bio-disaster units' needed to fight Ebola

    Read more

  • Could France sell the Mona Lisa to pay off its debts?

    Read more

  • Julie Gayet wins privacy case against French glossy Closer

    Read more

  • Germany blocks popular car pick-up service Uber

    Read more

  • Several UN peacekeepers killed in Mali explosion

    Read more

  • NATO plans new 'spearhead' force to counter Russia

    Read more

  • French clubs left behind as others spend big

    Read more

  • Britain drops arrest warrant for ill boy’s parents

    Read more

  • When water becomes a weapon of war

    Read more

  • Arab media strike back at IS Islamists – with cartoons

    Read more

  • US military targets Somalia's al Shabaab Islamist group

    Read more

  • Eve Ensler: 'In The Body Of The World'

    Read more

  • Boko Haram Islamists seize northeast Nigerian town

    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)