Ferrari's announcement that they'll quit Formula One at the end of this season if plans for a budget cap for 2010 are not abandoned, are being taken seriously.
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 to introduce an optional 100 million dollar budget cap, are changed.
The plan would allow capped teams to operate with far greater technical freedom than those continuing with unlimited budgets.
The former team owner Eddie Jordan says believes the suggestion that Ferrari might withdraw from Formula One is no empty threat...
The FIA has set a deadline of the end of this month for teams to state if they want to enter next year and whether they want a budget cap or not.