Ferrari threatens to leave F1 because of the ceiling on expenses

Earlier, Formula 1 has agreed to the imposition of ceiling on expenditure of season-2021 in the amount of $ 175 million, however, during the crisis of coronavirus most teams are willing to further reduce this figure.

McLaren had proposed reducing the ceiling to $ 100 million, but Ferrari does not agree to an amount of less than 150 million. The team claim that they will have to lay off many employees in order to invest in limit.

“The level of 145-150 million is the difficult option. If you reduce, you will have to cut staff. If that happens, Ferrari will think about how to represent the brand in other series,” said team boss Mattia Binotto.

Many perceived it as a threat to Ferrari to leave f-1. Later Binotto said that his words were misunderstood.

Note that in Formula 1 for making decisions need the consent of all 10 teams.

The nature of the problem with the expenditure ceiling can be read in our material.

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