Ferrari set to withdraw from Formula One

May 13, 2009 In an announcement that shocked the motor racing world yesterday, Ferrari has signalled its intentions to withdraw from Formula One next year. Ferrari’s Board of Directors announced a EUR 54 million Q1, 2009 trading profit, only slightly down compared to EUR 59 million last year. At the same time it criticised the Federation Internationale de l’Automobile for its decision to introduce “two different sets of regulations based on arbitrary technical rules and economic parameters.” The Board announced that unless the regulatory framework for Formula 1 is changed, then “the reasons underlying Ferrari’s uninterrupted participation in the World Championship over the last 60 years – the only constructor to have taken part ever since its inception in 1950 – would come to a close.”

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