Ferrari has announced that it won't be on the Formula One grid in 2010 if the FIA's new rules are enacted. As reported previously, Ferrari joins BMW-Sauber, McLaren-Mercedes, Red Bull, Toro Rosso and Renault in opposing the proposed regulations.
In Ferrari's release (posted after the break), the automaker said that it "does not intend [to enter] its cars in the 2010 F1 Championship" and "The Board considers that if this is the regulatory framework for Formula 1 in the future, then the reasons underlying Ferrari's uninterrupted participation in the World Championship over the last 60 years – the only constructor to have taken part ever since its inception in 1950 – would come to a close."
The new FIA regulations would cap spending at $60 million, not including driver salaries, engine costs and marketing expenses, or teams could ignore the cap and suffer from performance restrictions, thus creating a "two-tier" F1. FIA President, Max Mosley, believes that the new spending limits would allow more teams to enter the championship, but at what cost for the existing teams?
[Autoblog]