Ferrari in Formula One quit threat

FORMULA ONE stands on the brink of anarchy following Ferrari’s confirmation yesterday of their withdrawal from the sport from 2010 unless there are fundamental changes to the new regulations.

Ferrari have made it clear this is no posturing from their side, but a very real threat to end their 60-year involvement with F1. Their position follows a meeting of Ferrari’s board of directors in Maranello yesterday, and comes ahead of planned showdown talks with FIA president Max Mosley, potentially later this week in London.

Mosley sparked a furore a fortnight ago by announcing a £40m (€45m) budget cap would be introduced from next year, with a dual purpose of attracting new teams and curbing costs of the 10 present. However, that would lead to a two-tier F1, with initial murmurings of discontent having developed into vehement opposition.