Home / Auto News / News article: Ferrari To Quit Formula 1 Next Year Unless Rules Change - AutoGuide.com News
 |  May 12 2009, 4:41 PM

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Ferrari has officially declared that if FIA president Max Mosley intends to go through with his plan for a two-teared budgetary system in Formula 1 he can count the prancing horse out.

In a statement Ferrari’s board of directors declared that if the FIA goes ahead with it’s plans, “then the reasons underlying Ferrari’s uninterrupted participation in the World Championship over the last 60 years – the only constructor to have taken part ever since its inception in 1950 – would come to a close.”

The board blasted Mosley stating that, “The rules of governance that have contributed to the development of Formula 1 over the last 25 years have been disregarded, as have the binding contractual obligations between Ferrari and the FIA itself regarding the stability of the regulations.”

Ferrari is the first manufacturer to officially declare it would pull, after Toyota, Mercedes-Benz and BMW have made remarks that they might pull. Red Bull Racing and Scuderia Toro Rosso team owner v has also declared a boycott if Mosley goes ahead with his new rules.

As the most popular and marketable team in Formula 1, Ferrari’s threat is akin to the Yankees quitting baseball.

What exactly this new rule setup includes is a two-tiered setup with some teams spending an unlimited amount of cash to compete while other teams would have a £40 million  cap – not including driver salaries, marketing, engines or fines. Teams in the £40 class could use adjustable front and rear wings and have engines with unlimited revving capabilities.

There is speculation that the adjustable aerodynamics might provide an advantage that no amount of money spent on engineering could exceed, making high-dollar teams uncompetitive.

As well as practical reasons, Ferrari opposes the FIA’s two-tiered system in principle.

“The same rules for all teams, stability of regulations, the continuity of the FOTA’s (Formula One Teams Association) endeavours to methodically and progressively reduce costs, and governance of Formula 1 are the priorities for the future,” reads the statement. “If these indispensable principles are not respected and if the regulations adopted for 2010 will not change, then Ferrari does not intend to enter its cars in the next Formula 1 World Championship.”

The board of directors also asked that Ferrari’s many fans understand that the decision not to race in 2010 under the current rules was a difficult one but that it is consistent with Ferrari’s racing principles.

Official release after the jump:


FERRARI’S BOARD OF DIRECTORS APPROVES
THE FIRST QUARTER RESULTS:
TURNOVER 441 MILLION EURO
TRADING PROFIT 54 MILLION EURO

FERRARI CONFIRMS ITS OPPOSITION TO THE NEW
TECHNICAL REGULATIONS ADOPTED BY THE FIA
AND DOES NOT INTEND ENTERING ITS CARS IN THE 2010 F1
CHAMPIONSHIP

Maranello 12 May 2009 – Ferrari’s Board of Directors, chaired by Luca di Montezemolo,
today analysed the first quarter results for 2009. Despite the current international
economic climate, which has hit the automotive sector in particular, Ferrari’s figures were
in line with the record levels reached in 2008.

Turnover for the first three months was 441 million euro compared to 455.7 million euro
over the same period in 2008.

The first quarter closed with a trading profit of 54 million euro compared to last year’s 59
million euro.

These results reflect the introduction of new models, in particular the success of the Ferrari
California and the Scuderia Spider 16M, the constant growth in activities linked to the
brand (e-commerce, licensing, merchandising and retail) and the company’s continuing
efforts to maximise efficiency.

The Board of Directors also examined developments related to recent decisions taken by
the Federation Internationale de l’Automobile during an extraordinary meeting of the
World Motor Sport Council on 29 April 2009. Although this meeting was originally called
only to examine a disciplinary matter, the decisions taken mean that, for the first time ever
in Formula 1, the 2010 season will see the introduction of two different sets of regulations
based on arbitrary technical rules and economic parameters.

The Board considers that if this is the regulatory framework for Formula 1 in the future,
then the reasons underlying Ferrari’s uninterrupted participation in the World
Championship over the last 60 years – the only constructor to have taken part ever since
its inception in 1950 – would come to a close.

The Board also expressed its disappointment about the methods adopted by the FIA in
taking decisions of such a serious nature and its refusal to effectively reach an
understanding with constructors and teams. The rules of governance that have
contributed to the development of Formula 1 over the last 25 years have been disregarded,
as have the binding contractual obligations between Ferrari and the FIA itself regarding
the stability of the regulations.

The same rules for all teams, stability of regulations, the continuity of the FOTA’s
endeavours to methodically and progressively reduce costs, and governance of Formula 1
are the priorities for the future. If these indispensable principles are not respected and if
the regulations adopted for 2010 will not change, then Ferrari does not intend to enter its
cars in the next Formula 1 World Championship.

Ferrari trusts that its many fans worldwide will understand that this difficult decision is
coherent with the Scuderia’s approach to motor sport and to Formula 1 in particular,
always seeking to promote its sporting and technical values.

The Chairman of the Board of Directors was mandated to evaluate the most suitable ways
and methods to protect the company’s interests.