Ferrari threatens to leave F1 over budget cap dispute

Ferrari threatens to leave F1 over budget cap dispute

Ferrari threatens to leave F1 over budget cap dispute

McLaren team principal Zak Brown is "almost at a loss" at Ferrari's opposition to a reduced budget cap in Formula One, claiming the Italian giants are "living in denial".

According to reports, discussions last week suggested the cap for 2021 could be cut to $145million and then to $130million for 2022.

"The $145m U.S. dollars level is already a new and demanding request compared to what was set out last June", Binotto said.

In an interview with The Guardian, published on Wednesday evening, Binotto was quoted as saying: "It [a lower budget cap] can not be attained without further significant sacrifices, especially in terms of our human resources".

He said he would hate to see Ferrari leave, but the sport would survive with only 18 cars. "But if you're a team, for example, Ferrari saying, "Yeah from a cost point of view, we get it, we agree, but our auto might not be that competitive, we want a clean sheet of paper". "If you were to go down even more [que en 2019], we would not put ourselves in a position of having to seek other options additional to deploy our DNA of competition", said the executive in dialogue with the newspaper the Guardian.

"The misunderstanding was raised by the misleading headline of the article which was published at first and was immediately corrected".

Binotto agrees that of smaller teams are really struggling, a customer arrangement is preferable to bringing the budgets of all teams down to a lower level by regulation.

Brown also took aim at Binotto over a private settlement with the FIA following an investigation into the team's engine, after Binotto said Ferrari had an ethical duty to protect jobs. "They operate in different countries, under different legislation and with their ways of working".

"Therefore it is not simple and straightforward to make structural changes simply by cutting costs in a linear fashion", he added.

Binotto is aware of the time "particularly difficult" due to the covid-19, but he fears that the situation is handled too quickly and incorrectly.

Binotto urged Liberty Media, "This is not the time to react in a hurry as there's a risk of making decisions on the back of this emergency without clearly evaluating all the consequences".

"One should not forget that companies play a role in the social fabric of a nation. They are not just there to make a profit".

"The F1 has to be the pinnacle of motor sport in terms of technology and performance".

"Along the line of ethics, I think it would be great if Mattia would share with us ... what the details were behind the secret agreement that they came to", said Brown, who accepted he wanted a more level playing field in Formula One.

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