Ferrari could quit F1 if coronavirus leads to stronger budget caps

Ferrari team principal Mattia Binotto warns bigger restrictions could devalue the sport
Tom Doyle22 April 2020

Ferrari could walk away from Formula 1 if the coronavirus pandemic leads to budget caps being slashed.

Last year teams agreed to a budget cap of £142million for 2021 but, with the sport on hiatus and several teams needing to furlough staff during the shutdown, there have been suggestions that could be cut further.

According to reports, discussions last week suggested the cap for 2021 could be cut to £118m and then to £105.5m for 2022.

No agreement was reached and, in an interview with The Guardian, Ferrari team principal Mattia Binotto said he believes such restrictions could devalue the sport.

"The level is already a new and demanding request compared to what was set out last June," he said.

"It cannot be attained without further significant sacrifices, especially in terms of our human resources.

"If it was to get even lower, we would not want to be put in a position of having to look at other further options for deploying our racing DNA.

"F1 has to be the pinnacle of motor sport in terms of technology and performance. It must be attractive for the car manufacturers and the sponsors who want to be linked to this most prestigious category.

"If we restrict costs excessively then we run the risk of reducing the level considerably, bringing it ever closer to the lower formulae."

Additional reporting by PA.

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