Ferrari Threatens To Pull Out Of Formula 1 in Recent Misunderstanding with Liberty Media

Formula 1 owner plans to make substantial changes to Ferrari engines for 2021. However, a number of carmakers have opposed this ruling by Liberty Media. Such car manufacturers are the Ferrari, Mercedes, and Renault.

Furthermore, Ferrari and Mercedes boss Maurizio Arrivabene believes that they have every right to express opinions regarding the engines because it is their business. It was made after Red Bull team boss Christian Horner accused Ferrari and Mercedes to have blocked the need for serious changes in engine models.

Arrivabene also added that Ferrari desires to keep the same architecture for its engine by 2021, which reduces costs, boost the show, and improve performance. He also stressed that Ferrari will not prohibit exercising its historic and unique veto power in order to stop changes that the company considers are wrong.

The owners of the Formula 1 Race have revealed the blueprint for engines to be used in 2021. According their initial outline, they would like to remove the MGU-H, among others. The Ferrari group is the fist team that posted a warning to entirely stop racing.

Ferrari President Sergio Marchionne has already warned Liberty Media regarding their proposals. As a result, Marchionne met with the analysts to further discuss the latest financial results of Ferrari. Although he did agree with the cost-cutting plan, he was not satisfied with the plans plotted out by Liberty Media.

It can be recalled that Ferrari is the only team to have competed in each Formula 1 season ever since its inauguration in 1950. However, it is not the first time that this team has revealed its plan to leave the sport if there will be no consensus on both ends.

Ferrari is a source of Italian pride and Formula 1’s most historic team. The team has the most successful outfit with 16 Constructors’ Championships with 15 driver titles. Moreover, their current revenue share has reflected that particular status.

This move by Liberty Media was allegedly intended to level the playing field both on- and off-track. Their engine plans simply includes louder, cheaper, and simpler power units.

 

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