Marchionne repeats F1 quit threat

Sergio Marchionne has once again suggested that Ferrari could quit Formula 1 following Liberty Media's presentation of its plans for the future, In Bahrain last weekend, F1's owners sat in a meeting with F1 teams and showcased its vision for the coming years.

Following initial proposals during the 2017 season, Marchionne stated that he would pull Ferrari out of F1 if he felt the sport wasn't heading in the right direction. And after Bahrain's proposals for 2021 onwards, it seems that his mindset hasn't changed.

“If there are any proposals that distort F1, I think Ferrari will pull out. We are working with Liberty Media to find acceptable solutions,” said Marchionne. 

“We had a proposal from Liberty 10 days ago, we expect to know the details and then we will make choices in the interest of Ferrari,” he added. “We could look for alternative solutions, it’s not a threat, but it does not mean we stop shopping.”

As part of the new proposals, it emerged that Ferrari would still receive its Long Standing Team payment, which was worth $68 million last year. However, for 2021, it will be downsized to $40 million, which Ferrari must write down to group profits.

Liberty also proposed that a budget cap of $150 million would be implemented for 2021. When asked if that figure was achievable, Marchionne said: "We are discussing and we will see in the future if it’s achievable or not."