Ferrari may pull out of F1 next year

• Source: cctv
• [14:10 May 13 2009]
• Comments

In motorsports, Ferrari says it will pull out of 2010 season's Formula One championship unless FIA changes its new budget cap.

The team is upset by the sport's governing body's decision to impose a 60 million dollar budget cap on teams next season. A short statement on Ferrari's website said "No F1 in 2010 if the rules do not change," and "Ferrari does not intend to register cars for the 2010 F1 world championship."

The team's president Luca di Montezemolo has warned the rules would create a two-tier championship that could be "fundamentally unfair and perhaps even biased". Toyota and Red Bull have also threatened not to enter next year's championship unless the FIA forges a compromise.