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Ferrari has announced that it won't be on the Formula One grid in 2010 if the FIA's new rules are enacted. As reported previously, Ferrari joins BMW-Sauber, McLaren-Mercedes, Red Bull, Toro Rosso and Renault in opposing the proposed regulations.

In Ferrari's release (posted after the break), the automaker said that it "does not intend [to enter] its cars in the 2010 F1 Championship" and "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 new FIA regulations would cap spending at $60 million, not including driver salaries, engine costs and marketing expenses, or teams could ignore the cap and suffer from performance restrictions, thus creating a "two-tier" F1. FIA President, Max Mosley, believes that the new spending limits would allow more teams to enter the championship, but at what cost for the existing teams?




PRESS RELEASE

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.


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  • 32 Comments
      • 6 Years Ago
      I'll be eagerly awaiting the new open wheeled race series that Ferrari, McLaren, BMW, Renault, and Toyota will be racing in.
        • 6 Years Ago
        I remember but Ferrari was the one team that didn't bail on them so if you take them out of F1 with all the others and start a new series outside of the FIA you will pretty much have a drop in replacement
      • 6 Years Ago
      Ferrari, the sport's oldest and most successful team, also threatened a pull-out in October if proposals for a standard engine for all teams went ahead.

      http://www.webhush.com/ferrari-quit-formula-1-2010/
      • 6 Years Ago
      Tifozi forever!!!!
      I love Ferrari, and this desicion is the best for the sport, Ferrair as the only 60-year experience competitor has all the right to do this, FormulaOne without them, will be like, MLB without Yankees, WTH is that?? We demand a new broad of directors to F1, get Bernie Eccelston and company out of the system, they don't believe in this sport, they're corrupting it and bringing it down...
      Forza Scuderia!!! Forza!!!!
      • 6 Years Ago
      Hopefully it will allow for other manufacturers to enter. Anyone hear anything else about Hyundai entering F1 in the 2010 season?
      • 6 Years Ago
      Ah, Oswald Mosley's son is just like his father...
      • 6 Years Ago
      Isn't the whole point of F1 to be cutting edge in technology in development? Just let the teams splurge money if they want to.
      • 6 Years Ago
      Ferrari: check. your move, Max.
      • 6 Years Ago
      What sounds contradictory to me is that they talk about budget caps and reduce costs, yet they keep changing the rules and is planning on mandating KERS for 2010.

      KERS is an obvious failure, most teams have abandoned that expensive and useless device. Mandating it, and non-KERS cars having to put them one means a huge amount of investment.

      Cost-cutting is not just about budget caps, its about fundamentally simplifying the rules so that teams don't have to pour money into developing cars each year because the rules keep changing.
        • 6 Years Ago
        Yep, KERS is horrible.

        It essentially allows for more and more blocking. The whole "idea" with the regulations this year was to increase passing, now you've got the opposite, less passing due to people who are slower boosting with KERS.

        What the hell is this, Fast N Furious? There is no NOS, there is no KERS, give back our series and our racing.

        I'm glad Ferrari did this, hell every other major manufacturer is protesting it too. You can't be the pinnacle of innovation and racing with stupid restrictions and only allowing innovation on devices you approve (KERS).
        • 6 Years Ago
        "hey guys, we are going to cut costs buy forcing you to develop a new V8 engine from scratch". Hahaha.
        • 6 Years Ago
        Yup, KERS is retarded.
      • 6 Years Ago
      If Ferrari does not race, Formula One is as good as dead.
      • 6 Years Ago
      I hope Ferrari goes to Le Mans or Rallying. A prototype Enzo Racer or a Rally Spec F450 would be awesome!!!
        • 6 Years Ago
        Enzo never wanted anything but F1. When he gave up his company to Fiat, they were the ones that took over his sports car arm.

        If Enzo had it his way, Ferrari would make F1 cars and power tools. That is is. He had no intention of making street cars. Rallying was thought about but never wen't anywhere at Ferrari. That is why the 288 GTO and 408 never went rallying.
      • 6 Years Ago
      The real threat by Ferrari is to the bond obligations Bernie has. If the TV ratings tank, he defaults. Maybe F1 would like to get out from under their capital burden, hmmm?
      • 6 Years Ago
      Basically, Ferrari wins. Either they cave in, and Ferrari stays, or they leave, and it caves in on itself.

      Either way, I'll have the same extremely high level of respect for Ferrari for sticking to their guns like this.
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