Ferrari will exit Formula 1 if budget cap continues!

Posted by Harvinder

May 13, 2009

As other teams like Toyota and Red Bull have already expressed that they will quit Formula 1 at the end of the season if the budget cap system continues, now Ferrari has also decided to join the bandwagon. The Italian team’s major fear, just like Toyota’s and Red Bull’s, is that the budget cap system will cause a “two-tier” championship.

The decision was made during a meeting among the company’s board of directors in Italy. Ferrari officially revealed, “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.”

With Ferrari standing along side Toyota and Red Bull, the FIA will definitely have to heavily re-consider the implementation of the controversial budget cap system. However, although the system is not fancied by bigger teams such as Ferrari, smaller teams, as well as upcoming ones will hugely benefit from it. Probably the best thing for the FIA to do, is to increase the budget cap from £40 million per season to a higher, more acceptable figure, and impose it on all the teams, instead of making it a choice – which will cause the “two-tier” championship in the first place. Can you imagine Formula 1 without Ferrari?