Tuesday, May 12, 2009
After 60 years of continuous participation in Formula One competition (more than any other marque), Ferrari may not participate in the 2010 season as a result of FIA equipment rule changes that Ferrari feels are inappropriate.
Ferrari piggybacked the information on a financial press release this month, but it's sure to rock the racing world.
According to the press release, "The Board considers that if this is the regulatory framework for Formula 1 in the future, then the reasons underlying Ferrari’s uninterrupted participation in the World Championship over the last 60 years – the only constructor to have taken part ever since its inception in 1950 – would come to a close.
"The Board also expressed its disappointment about the methods adopted by the FIA in taking decisions of such a serious nature and its refusal to effectively reach an understanding with constructors and teams. The rules of governance that have contributed to the development of Formula 1 over the last 25 years have been disregarded, as have the binding contractual obligations between Ferrari and the FIA itself regarding the stability of the regulations.
The same press release showed Ferrari profits are down by about 10 percent of the same period last year, but saving more than $100 million on its F1 team are sure to reflect on the bottom line...unless Fiat plans to use those funds to bolster any takeover of Chrysler or GM's Opal division.
Time will tell, but I will miss the Scuderia gang on the starting grid, and hope the differences can be worked out.
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