Motor racing-Formula One can live without Ferrari, says Mosley
By Alan Baldwin
LONDON, May 2 (Reuters) - Formula One could live without
Ferrari if they were to walk away in protest at the
introduction of a budget cap, according to International
Automobile Federation (FIA) president Max Mosley.
In an interview published in Saturday's Financial Times,
Mosley said that he was locked in a power struggle that he
intended to win.
He made clear that he would not be backing down over
allowing teams to compete with a voluntary 40 million pound
($59.56 million) cap in 2010 in exchange for greater technical
freedom than others remaining with unrestricted budgets.
The move, described by Mosley as "by far the biggest
development in my time in the sport", has been welcomed by
potential new entries as well as independent teams pitted
against big-spending manufacturers.
However, Ferrari president Luca di Montezemolo wrote to
Mosley this week warning against creating a two-tier Formula
One that could be "fundamentally unfair and perhaps even
biased."
Montezemolo has also warned that Ferrari's continued
presence should not be taken for granted.
"I personally have a lot of passion and Ferrari has a lot
of passion, but this is not a never-ending story," the official
Formula One website (
www.formula1.com) quoted him as saying.
The glamour team have been in Formula One since the first
championship race in 1950 and, with the Monaco Grand Prix, have
long been seen as the jewels in the crown. They have been
champions eight times in the last 10 years.
"The sport could survive without Ferrari," said Mosley,
adding: "It would be very, very sad to lose Ferrari. It is the
Italian national team."
POWER STRUGGLE
Mosley said there were "elements among existing teams" who
felt that the teams should be running Formula One rather than
the FIA or Bernie Ecclestone, who represents the commercial
rights holders CVC.
"The last thing they want is new teams that dilute what
they've got," added the Briton, who has expanded the starting
grid to allow for three new cost-capped teams next year. "There
is that going on in the background.
"There is an element of who is running F1. I'd like to make
sure it's me."
Mosley said the message he was getting from the board of
two or three of the major carmakers was that they would commit
long-term if costs were reduced dramatically.
He added that the cost cap could go up or down in future,
depending on the financial climate and warned that the sport
should be prepared for much tougher times ahead.
"The credit crunch hasn't really hit F1 yet," he said.
"Obviously we lost Honda, but the real crunch will come when
current (sponsorship) contracts come to be renewed.
"At the moment you see ING, RBS, Allianz, big sponsors, but
they wouldn't be here this year if they didn't have a binding
contract.
"Those contracts were signed before their share prices took
a dump. I believe (Ecclestone's Formula One Management) FOM
will not be able to give the teams as much money as they
have."