Ferrari Statement "The Board of Directors of Ferrari SpA met today under the chairmanship of Luca di Montezemolo, to examine the third quarter results. The Board of Directors also examined the proposed changes to the Formula One regulations, in the light of the current global economic crisis. "Whilst reiterating its wholehearted commitment to a substantial and needed reduction in costs in Formula One, starting with propulsion, the Ferrari Board of Directors expressed strong concerns regarding plans to standardise engines as it felt that such a move would detract from the entire raison of a sport with which Ferrari has been involved continuously since 1950, a raison d’etre based principally on competition and technological development. "The Board of Directors expressed the opinion that should these key elements be diminished, it would have to re-evaluate, with its partners the viability of continuing its presence in the sport."[F1-Live]
With Max Mosley pushing a one-engine-for-all agenda as a cost-saving measure for Formula One teams, Ferrari has threatened to get out of the F1 business entirely. Ferrari believes that, after more than 50 years of consecutive commitment to the racing series, it would be better served looking elsewhere for race wins if the spec engine proposal gets approved. Mosley has tried to ignore the problem — which he's proven is a winning strategy. Ferrari is probably just mouthing off, as they have made so much history in F1 people are naming buildings after their drivers. The Ferrari statement below the jump.