Formula 1

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FIA president is confident that Ferrari will remain in F1 despite their threats to quit the sport

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Formula One fans were left aghast earlier this year when Ferrari president Sergio Marchionne threatened to withdraw the team from the sport in response to changes being proposed by F1 owners Liberty Media to take effect from 2021.

Among the proposals which had angered the Scuderia was a move to an overall budget cap for each team of $150 million, and restrictions upon the type of engines that teams may use, as well as the slashing of Ferrari's $100 million "heritage bonus" by more than half - to around $40 million.

However, the team have held what would seem to be positive talks with the sport's administrators in recent weeks and, per sport24.co.za, FIA president Jean Todt appears confident that Ferrari can be convinced to continue their involvement in the sport, which began all the way back in 1960.

"Ferrari is an iconic brand," Todt reasoned. 

"There are several reasons for that, and one of them is that the sport is very important for them.

"Ferrari profits from racing and racing profits from them. I'm convinced that if we set up a good format, they will continue to be interested.

"I'm convinced that if we set up a good format, they will continue to be interested."

The proposed changes to the sport were announced by Liberty Media with the aim of providing a more level playing field within the sport - and this is something that Todt concedes is important to the future of F1.

"We have to do something that's good for 10 teams, not just one.

AUTO-RALLY-FIA-KENYA

"More than half of the teams are in difficulty, and that's not good for the premier discipline of motor sport. That's why we have to do something about the discrepancy between the teams."

The loss of Ferrari from F1, however, is borderline unthinkable - such is their appeal to fans, sponsors, and broadcasters alike.

Clearly a balance must be struck between the need to ensure competitiveness within the sport, whilst recognising the value of the Ferrari brand.

With Liberty Media's initial suggestions of reform prompting such a strong reaction from the team, it would seem wise that teams are consulted on any planned future changes before they are announced.

For now, it would appear that Ferrari's threat to walk away from F1 has been neutralised.

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Topics:
Sebastian Vettel
Kimi Raikkonen
Ferrari
Formula 1

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