Formula One: Exit for Ferrari?

Ferrari president Luca di Montezemolo is threatening to withdraw from Formula One. His stated reason is the rule change for the 2010 season which will impose a ceiling on budgets. The teams have a choice between sticking with the previous uncapped system or contesting the championships within a strictly imposed upper limit of 40 million GBP. Those who agree to be bound by the budget cap will have a certain technical leeway that will not be granted to the big spenders.

Ferrari see this as an attempt to set up a two-tier Formula One, an idea that they find unacceptable. The scarlet-liveried outfit from Maranello are the longest-serving team in Formula One with a history dating back to 1950. Since then, they have won the drivers' championship 15 times and have 16 constructors' titles to their credit. Meanwhile, there have also been vociferous protests from Toyota, Red Bull and Renault. The next round of discussions is due to take place soon. It is by no means certain that agreement can be reached. However, it is hard to imagine Formula One without Ferrari.