Formula One news

FIA responds to Ferrari quit threat

The FIA has responded to Ferrari's threat to quit Formula One if plans to introduce a standard engine go ahead. 

"It seems the Ferrari Board were misinformed," an FIA statement read. "The FIA has offered the teams three options, one of which is the so-called standard engine, and another that the manufacturers should jointly guarantee to supply power trains to the independent teams for less than €5m per season."

"The FIA is delighted by Ferrari's financial success and hopes this will be maintained," it added. "However a number of teams find themselves facing costs which greatly exceed income. This is not sustainable. It is now for the manufacturers to agree one of the three FIA options or themselves produce concrete proposals to reduce costs to a sustainable level."

"If neither happens, the FIA will take whatever measures prove necessary to preserve a credible world championship for both drivers and constructors."

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