Ferrari have mentioned they continue to be dedicated to Formula One after studies on Thursday that the game’s oldest and most profitable crew might stroll away if a proposed budget cap for 2021 was set too low.

Britain’s Guardian newspaper urged Ferrari had been ready to stop in a headline, later changed, over an interview with crew boss Mattia Binotto.

A Ferrari spokeswoman mentioned Binotto had not talked about the crew leaving Formula One.

“On the contrary, he said that we would not want to be put in a position of having to look at further options, besides continuing racing in F1, for deploying our racing DNA,” she added.

Binotto had instructed the Guardian that a drastic budget cut, referred to as for by some groups as they face the fallout of the Covid-19 disaster, put in danger lots of of jobs at their Maranello manufacturing unit.

“The $145 million level is already a new and demanding request compared to what was set out last June,” he mentioned.

“It cannot be attained without further significant sacrifices, especially in terms of our human resources.”

Formula One is due to introduce a budget cap of $175 million in 2021 however groups are discussing lowering that.

The Italian mentioned the groups had completely different traits, some privately run whereas others had been a part of main producers working in several international locations and beneath completely different laws.

“Therefore it is not simple and straightforward to make structural changes simply by cutting costs in a linear fashion,” he added.

“We are well aware that F1 and indeed the whole world right now is going through a particularly difficult time because of the Covid-19 pandemic.

“However, this is not the time to react in a hurry as there’s a risk of making decisions on the back of this emergency without clearly evaluating all the consequences.”

Red Bull boss Christian Horner, whose crew had been dominant earlier than Mercedes gained the final six championships, can also be opposed to a budget cap beneath $145 million. Mercedes are supportive of additional cuts.

Formula One has already delayed till 2022 the implementation of main technical rule modifications deliberate for 2021, with groups utilizing the identical automobiles subsequent 12 months as this.

The season has but to begin with 9 races referred to as off, together with the showcase Monaco Grand Prix in May which has been cancelled.

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