21 May 2009

Ferrari appeal thrown out

6:33 am on 21 May 2009

Ferrari have failed in their bid to stop Formula 1's governing body introducing controversial new rules that limit team spending.

Their appeal against the FIA, which wants to introduce an optional 100 million dollar budget cap from 2010, has been dismissed by a French court in Paris.

The FIA proposal prompted Ferrari to threaten to quit F1, with Renault, Red Bull and Toyota holding a similar view.

Ferrari are now mulling continuing with legal action in the civil courts.

The Italian team also insist they will carry on working with other F1 teams to find a solution to a crisis that is escalating ahead of the official deadline for entries into the 2010 world championship on May 29th.