James Allen on Ferrari quit threat

Ferrari raised the previously unthinkable spectre of a Formula 1 without the legendary Italian marque by threatening to walk away from the sport at the end of this season if the optional budget cap is introduced as planned.

ITV.com/F1 columnist James Allen explains why Ferrari is so opposed to the 2010 plans, reads between the lines of its board's explosive statement and asks whether this is simply an act of brinkmanship or if the team is deadly serious.

Today’s announcement by Ferrari that they will not enter the 2010 world championship if the rules regarding budget caps and the two-tier system are not dropped is quite a bombshell, although it has been coming for some time.

When Max Mosley said the other week that “Formula 1 could survive without Ferrari” you could almost hear the blood boiling in Maranello.

Ferrari are unhappy on a number of levels: they don’t like the idea of a budget cap, because they think it is impossible to police and they resent the idea of FIA accountants poring through their books.

They also are unhappy that the FIA has, in their view, not respected rights, which were apparently agreed between the governing body and Ferrari in 2005, whereby the team have a right of veto over rule changes.

This is why the two-tier element to the 2010 rules comes in, so that Ferrari can continue to run with unlimited budget if it wishes to.

As Mosley said: “If Ferrari chooses to continue with an unrestricted budget the new regulations will not deprive Ferrari of any rights or impose any significant new obligations upon Ferrari.”

Ferrari’s statement hints at a legal challenge against the FIA and the 2010 rules.

It also ends by saying that the chairman is mandated to look at all avenues in order to protect Ferrari’s interests and this could be taken to mean either entering another existing series or starting their own, possibly in conjunction with other manufacturers.

Toyota said on Sunday that they would not enter the 2010 championship if the conditions do not change and other manufacturers are known to feel that way, even if they haven’t come out and said it.

So what does it all mean? Is this just a spectacular piece of showmanship or is it a serious threat to take Ferrari out of F1?

Mosley says he has little room to negotiate, because the new teams will not be able to come in unless the budget cap is in place and set low.

But would the FIA really rather have USGPE, Lola and iSport than Ferrari and Toyota and BMW?

Bernie Ecclestone is going around saying that the accountancy side will be sorted out and the whole thing will be resolved when the teams meet with Mosley on Friday in London.

It would be a mistake to underestimate either Ferrari’s anger or Mosley’s resolve.

http://www.itv-f1.com/Feature.aspx?Type=James_Allen&id=45862&PO=45862

Well, it looks like we shall have to wait until Friday to see if they resolve this! Let us hope so and that these three teams do not quit, or any other, for that matter, who may want to join the battle!