Ferrari pledge to continue in F1

Ferrari have ruled themselves out of a breakaway series in 2008 and are now committed to Formula One until 2012.

Ferrari pledge to continue in F1

Their signing of an extension to the Concorde Agreement, which governs the running of the sport, undermines any moves by other F1 teams to set up a rival series.

Four manufacturers - Ferrari, DaimlerChrysler (Mercedes), Renault and BMW (Williams) - were using the threat of the Grand Prix World Championship (GPWC) to get a better deal from F1 impresario Bernie Ecclestone.

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