Troubles continue to mount for F1 with the head of Melbourne’s Albert Park Grand Prix vowing to pull the plug on the race next year if Ferrari is not part of the lineup. Formula One and many racing teams, including Ferrari, are at odds over new spending caps and other cost cutting measures unilaterally imposed by the 60 year old racing league.
The main bone of contention is a cap on spending. FIA president Max Mosley is leading the FIA’s push to curb costs, with a voluntary 40-million-pound budget cap being made available to teams. Teams that don’t adhere to the cap will not receive the same technical freedom. Most recently, the eight leading teams walked out of a meeting before the German Grand Prix at Hockenheim when they were told they would have no input on these proposed cost cutting measures.
Ferarri has been involved in all 60 seasons of F1 racing, and has said that the new FIA guidelines were arbitrary and would set a double standard. It said equal rules for everyone are necessary for the sport to continue.
Mosley has said the sport could survive without the Italian automaker, despite the fact that it is by far the most prestigious name in F1 history. Ferrari is F1’s most successful team with 15 drivers’ and 16 constructors’ championships. Kimi Raikkonnen was the last Ferrari driver to win the title in 2007.