FERRARI SEES RED

Ferrari has raised serious doubts over the FIA's new voluntary 'Budget Cap' system, with President Luca di Montezemolo questioning the path Formula One is headed, even alluding that the Scuderia's involvement in Formula One is 'not a never ending story'   The World Motorsport Council ratified the new £40 million 'Budget Cap' at a meeting in Paris last week, a move to stem unnecessary spending from teams. Parties who sign onto the budget cap will gain exclusive technical benefits (See previous story), benefits which are not available to those who remain 'free spenders' It is this 'two tiered' approach that has upset di Montezemolo, as he believes fans are likely to be confused and that the regulations may simply be a knee jerk reaction to the global climate.“Any controversy [regarding] the actual respect of the cost cap would undermine the image of Formula 1 and could seriously damage any involved team”, said the Italian in a letter to FIA Presdient, Max Mosely. The letter, sent on the April 28th, two days before the details of the 'Budget Cap' were announced, declared that Ferrari's powerful status within F1 allowed them the right to air the grievances, something that the FIA should not take likely.