Currently reading: Ferrari: F1 cap hurts road cars
Ferrari says F1 budget cap will hurt road car R&D

Ferrari has insisted that its opposition to the proposed £40 million budget cap in Formula One is down to the detrimental effect such a move would have on the development of its road cars.

“Unlike some of the other teams in F1, Scuderia Ferrari’s involvement in the sport is not a marketing exercise,” a Ferrari spokesman told Autocar. “Our F1 technology is integral to the development of Ferrari road cars, and the proposed budget cap would severely hinder that development.”

Yesterday, Ferrari officially threatened that it would be absent from the 2010 Formula One world championship if the proposed rule changes came into effect.

Ferrari threatens to quit F1

Today, Renault joined the Toyota Red Bull and Ferrari Formula One teams in threatening to quit the sport for 2010.

“We cannot be involved in a championship operating with different sets of rules,” said Renault F1 team president Bernard Rey in a statement. “If such rules are put into effect, we will be forced to pull out [of F1] at the end of this season.”

Teams have until 29 May to submit their entries for the 2010 championship to the FIA.

Matt Rigby

Andrew Frankel's blog on Ferrari's importance to F1 here

Read Steve Sutcliffe's blog on Ferrari's threat here

Click here to read Alan Henry's blogs from the Formula One season

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