Ferrari threatens to withdraw from 2010 season

Published 13 May, 2009, 11:06

Formula One may lose its most successful and longest-standing team next year as Ferrari announced they won't enter the 2010 championship unless governing body FIA drops new budget-capping rules.

Ferrari and some other teams have been angered by the new plans to introduce an optional $60 million budget cap next season, claiming the move can result in a two-tier championship, between those who adopt the cap and those who don't.

Those who don’t will have greater flexibility in the design of their cars.

Toyota and Red Bull have also urged FIA to revoke the new rules.

Crunch talks between the teams and FIA chief Max Mosley are scheduled for the next few days.

May 29 is the deadline for the 2010 entries.

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