Ferrari budget appeal rejected
Ferrari may pull out of F1 after failing in appeal against budget cap
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Wednesday, 20, May 2009 10:46
Ferrari have failed in their bid to stop formula one's governing body the FIA from introducing controversial new rules over spending by teams next season.
A Paris court today ruled in favour of the FIA, who want to bring in an optional £40 million budget cap for teams competing in the world championship from 2010 onwards.
Ferrari brought the case against the governing body because they believe introducing a budget cap, which the Italian team would struggle to meet as one of the sport's biggest spenders, will create a two-tier competition.
Under the proposition, teams will not be required to adhere to the regulations but in failing to comply they will be penalised with restrictions on their technical freedom and ability to undertake out-of-competition testing.
Three other teams - Renault, Red Bull and Toyota – have all joined Ferrari in threatening to pull out of F1 if the new rules are introduced against their will.
However, the governing body's president Max Mosley has stated the changes are necessary to reduce the costs involved in competing in the sport as the organisers look to attract further teams.