13 May 2009

Ferrari threaten F1 withdrawal over budget cap

6:31 am on 13 May 2009

Ferrari have threatened to leave formula one at the end of this season if recently announced plans for a budget cap for 2010 are not abandoned.

Toyota and Red Bull, who also own Ferrari-powered Toro Rosso, have already threatened not to enter next year's championship unless the new rules are changed.

Formula one's governing body, the FIA want to introduce an optional budget cap next year to encourage new teams to enter, but Ferrari's president Luca di Montezemolo, who's also head of the Formula One Teams' Association, has warned it would create a two-tier championship that could be "fundamentally unfair and perhaps even biased".

Formula One's commercial supremo Bernie Ecclestone made it clear last weekend that he was not prepared to lose Ferrari declaring "Formula One and Ferrari is a marriage made in heaven".