“The same rules for all teams, stability of regulations, the continuity of the FOTA's endeavors to methodically and progressively reduce costs, and governance of Formula 1 are the priorities for the future,” said the statement from Ferrari.
“If these indispensable principles are not respected and if the regulations adopted for 2010 will not change, then Ferrari does not intend to enter its cars in the next Formula 1 World Championship,” added the aforementioned document.
This is the first official threat issued by an F1 manufacturer concerning a potential quit from the sport, following the voluntary 40M budget cap confirmed by the FIA for the 2010 season. BMW and Toyota have also publicly expressed their disagreement over the new rules, but no official position has been made public.
Also, Red Bull Racing have announced, through the voice of team manager Christian Horner, that they don't intend to participate in next year's F1 series under the new current budget limitations.
FIA's Max Mosley is to meet with Formula One Teams Association (FOTA) representatives later this month to further discuss the budget cap rules. Earlier today, however, FIA's technical advisor Tony Purnell said in an Autosport interview that he's optimistic about a future agreement between the two parties.
Update on May 13: Renault to announce F1 quit as well.
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