Formula One news

Todt downplays budget plunge

Jean Todt has downplayed reports that a waning budget can be linked to Ferrari's '05 downfall. Although speculation is adamant that - with Fiat's financial problems - the annual Ferrari F1 budget this year is $50-60m lower than in 2003, Todt is keen to quieten the link between money and speed. "We will never state that we are not getting the results because we do not have the means," the Frenchman told Italy's La Gazzetta dello Sport.

Jean Todt continued: "We have reached important agreements this year -- Philip Morris, for example, will be with us until 2011."

The Ferrari boss also rubbished suggestions that Michael Schumacher's driving contributed to the red decline. "We have learned never to underestimate him," Jean Todt said of the German champion. "People who say he is finished know little about motor racing. Ferrari's problems are our problems alone."

more news

• 20 Nov.
  • Photos: Rossi tests Ferrari F2008
  • Rossi doing well at Mugello in F2008
  • Brawn praises Senna and Di Grassi
  • Vettel happy with early test form
  • Senna happy wih test performance
  • Sato unable to rate his chances
• 19 Nov.
  • Piquet wraps up Renault test
  • Vettel finishes test on top
  • 'STR's driver decision is purely a financial issue'
  • Senna enjoys warm welcome in paddock
  • Di Grassi enjoyed Honda opportunity
  • Photos: Wednesday in Barcelona
• 18 Nov.
  • Renault pushes on with test
  • Vettel fastest on day 2
  • Ecclestone to replace points for medals?
  • 'This is the worst looking F1 car ever!'
  • Hamilton joins side event Race of Champions
  • De la Rosa joins Force India in Barcelona
  • Photos: Tuesday in Barcelona
  • Wurz enjoying return of slicks
  • Renault happy with first day back
• 17 Nov.
  • Senna's dream comes true with first day at Honda
  • Loeb impressed with Barcelona test
  • Sato fastest on first day in Barcelona
  • Force India sees 2009 chassis delayed
  • Canadian Grand Prix officially axed
  • The 2009 season gets under way in Barcelona
  • Photos: Monday in Barcelona
• 16 Nov.
  • Schumacher gets Superbikes offer
  • Rampf hoped for more in second half of season
• 15 Nov.
  • Loeb happy with Silverstone shakedown
  • Williams extends key sponsor deal
• 14 Nov.
  • Van der Garde sitting tight at Renault
  • Raikkonen admits motivation problems
  • Shanghai could axe Chinese Grand Prix
• 13 Nov.
  • Kennard enjoys first F1 experience
  • 2008 my toughest season - Kubica
  • Glock aiming to keep up second half of season form
• 12 Nov.
  • Van der Garde to test Renault F1
  • Montezemolo critical of KERS

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