Ecclestone: "Ferrari Don't Want to Leave F1"

Formula One boss Bernie Ecclestone does not fear Ferrari could decide to pull the plug on their F1 operations following their Board of Directors meeting later today. The 78-year old Englishman argued Formula 1 needs Ferrari in the same way the Italian manufacturer needs to be part of the Great Circle, and feels assured the prancing horse will still race in F1 from 2010 onwards.

“Ferrari are not stupid. They don't want to leave formula one and we don't want to lose them, so we'll get to grips with it,” said Ecclestone in an interview with London's times.

Ferrari's CEO Luca di Montezemolo publicly announced his strong disagreement with the optional 40M (pounds sterling) budget cap for 2010, which will more likely lead to a two-ties series. As explained by the FIA shortly after the budget cap rule was confirmed, the teams who will chose to apply for the aforementioned budget limitations will benefit from certain technical freedoms. The other teams, of course, will have to deal with several technical limitations.

However, Ecclestone revealed the prospects of a two-tier series in F1 are “slowly disappearing”. FIA's Max Mosley is to meet with the Formula One Teams Association (FOTA) representatives later this month to further discuss the new budget restrictions, and it is believed the elements leading to a two-tier series are to be scrapped from the 2010 regulations.

In addition, Ecclestone revealed the teams could be granted with the right to police their F1 spending themselves, and not be subject to external FIA auditors.

It is believed that, if the FOTA representatives do not come to a new agreement with Mosley, no less than 7 teams will boycott the May 29th deadline for 2010 entry list submitting.