Ferrari has clarified comments made by team boss Mattia Binotto
and asserted that the squad remains committed to racing in Formula 1.
Formula 1 is to introduce a budget cap of $175m from 2021
though this figure has been under discussion amid the ongoing coronavirus
Ferrari has been one of the primary opponents of a further
reduction, pointing to the fact it supplies some components to other teams,
while also working under different labour laws to most other Formula 1
In an interview with The Guardian, published on Wednesday evening, Binotto was quoted as saying: “It [a lower budget cap] cannot be attained without further significant sacrifices, especially in terms of our human resources.
“If it was to get even lower, we would not want to be put in
a position of having to look at other further options for deploying our racing
It was taken in some quarters as a threat to withdraw from Formula
1 should the budget cap be lowered but this was firmly denied by Ferrari on Thursday
“We would like to clarify what Mattia said in his interview
with published yesterday night,” Ferrari said in a statement.
“He never mentioned about Scuderia Ferrari quitting F1, on
the contrary, he said that we would not want to be put in a position of having
to look at further options, besides continuing racing in F1, for deploying our
racing DNA, in case the budget cap would be even more drastically reduced,
putting at risk hundreds of workplaces.
“The misunderstanding was raised by the misleading headline
of the article which was published at first and was immediately corrected.”