Ferrari may write off F1 by 2010

The most prominant livery on the F1 enviorns - the scarlet red Ferrari, may soon disapprear from the grid, come 2010. Max Mosley's latest brainwave of using a similar engine on all the race cars to drop produciton costs, has led to this debacle. While most F1 teams are against this rule, Max seems pretty stern on implementing this rule. 

Ferrari amongst all other teams believes that such a rule will question the very basis of Formula 1 - which in iteself is an engineering challenge. If the FIA goes ahead and implements the rule, the Italian marquee will walk out of F1 and find solace in some other motorsport. The official statement from Ferrari is as follows:

"The Board of Directors of Ferrari SpA met today under the chairmanship of Luca di Montezemolo, to examine the third quarter results. The Board of Directors also examined the proposed changes to the Formula One regulations, in the light of the current global economic crisis.
"Whilst reiterating its wholehearted commitment to a substantial and needed reduction in costs in Formula One, starting with propulsion, the Ferrari Board of Directors expressed strong concerns regarding plans to standardise engines as it felt that such a move would detract from the entire raison of a sport with which Ferrari has been involved continuously since 1950, a raison d’etre based principally on competition and technological development.
"The Board of Directors expressed the opinion that should these key elements be diminished, it would have to re-evaluate, with its partners the viability of continuing its presence in the sport."