Ferrari leaving F1?
After weeks of intense behind-the-scenes manoeuvring in which Luca Di Montezemolo, the Ferrari president, has sought to lead the charge against the FIA, motor sport’s governing body, and Max Mosley, its president, the board of the Italian car manufacturer said that it will not enter next year’s World Championship unless plans for a voluntary £40 million budget cap are changed. The company said that it wanted the same rules in place for all the teams, stability of technical regulations and progress on cutting costs along the lines proposed by the Formula One Teams Association (FOTA), which is led by Di Montezemolo and which has favoured a more cautious approach to budget-trimming. “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 One World Championship,” the company said. Referring to the FIA’s World Motor Sport Council meeting on April 29, which approved the 2...