Ferrari threatens pullout over cap

The storied Ferrari team threatened to not race in Formula One next season unless the sport’s governing body revokes its new budget cap. The Italian team, which has been involved in all 60 seasons of F1 competition, said Tuesday the new FIA guidelines were arbitrary and would set a double standard. “The same rules for all teams, stability of regulations, the continuity of … endeavors to methodically and progressively reduce costs, and governance of Formula One are priorities for the future,” Ferrari said in a statement after a board meeting. “If these indispensable principles are not respected, and if the regulations decided for 2010 will not change, Ferrari does not intend to enter its cars in the next Formula One world championship.” Ferrari said it hoped fans would understand this “painful choice. Sportsillustrated



