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article imageFerrari threatens to quit Formula 1 for 2010 World Championship

By Julian Worker     May 12, 2009 in Sports
Ferrari is the most famous Formula 1 marque, driven by all-time greats like Fangio, Lauda, and Schumacher. So when Ferrari threatens to leave F1, people sit up and take notice. And despite what FIA head Max Mosley says Ferrari might be missed.
On Tuesday, May 12 after a meeting of the board of directors in Maranello, Italy, it was announced that Ferrari would not be entering a team in the Formula 1 championship in 2010.
Ferrari is the only team to have contested every world championship since its inception in 1950. Ferrari drivers who’ve won the World Championship include Alberto Ascari (1952 & 1953), Juan Manuel Fangio (1956), Mike Hawthorne (1958), Phil Hill (1961), John Surtees (1964), Niki Lauda (1975 & 1977), Jody Scheckter (1979), Michael Schumacher (2000 – 2004), and Kimi Räikkönen (2007). Ferrari are the most famous and successful team in the sport of Formula 1 and are the most popular amongst the fans.
Prior to the recent Spanish Grand Prix in Barcelona, both Toyota and Red Bull had threatened not to enter the 2010 championship unless the new rules published by the sport’s governing body the Fédération Internationale de l'Automobile (FIA) were changed.
The FIA want to introduce an optional 40 million pound ($60.7 million) budget cap next year to encourage new teams to enter. Any team operating within the cap would have far greater technical freedom than those continuing with unlimited budgets. However, the richer teams believe that all this will introduce is a two-tier championship.
Ferrari are also upset about the way the FIA has handled the introduction of the new rules. They feel that the rules of governance have been disregarded as have the contractual obligations between Ferrari and the FIA regarding the stability of the regulations. Ferrari wants the same rules for all teams and they also want the FIA to back the Formula One Teams Association (FOTA) in their endeavours to progressively reduce the costs of the sport.
The FIA has set a deadline of May 29 for teams wishing to compete in 2010 to enter and state whether they want to be subject to the budget cap or not.
The next three weeks will show whether Ferrari’s announcement today was just a threat or whether Formula 1 will lose the prancing horse, the most famous marque in Motor Racing, for the 2010 season.
More about Ferrari, Withdraw, Formula, Motor racing, Grand prix
 
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