Zoom Side by side in the Monte Carlo paddock...

In a statement this afternoon Ferrari stated that it has ‘noted the verdict’ of the Tribunal de Grande Instance with regards to the ongoing dispute between the team and the sport’s governing body, the FIA. The dispute centres on the 2010 budget caps agreed the World Motor Sport Council last month and the team reiterated that they would exit Formula One should an agreement over costs not be reached.

"The existence and validity of Ferrari’s right of veto, as sanctioned in a written agreement with the FIA Senate, were recognised by the Court, as was the fact that this dispute is of a contractual nature," a statement from the Italian squad read. "Consequently, it was also recognised that the dispute was not a matter for the internal tribunal of the FIA, but rather a matter for normal civil courts. The Court believed that the right of veto should have been exercised during the World Council meetings of March 17th and April 29th. It therefore chose to let the civil law courts rule on the urgency of the matter."

"Such a decision, which is not prejudicial to the outcome of the matter, allows the FIA to impose on those teams entered in the 2010 world championship, regulations that have been drawn up unilaterally without respecting the agreed procedures. In the final analysis, Ferrari has been forced to use its right of veto, in defence of its own interests and those of all the teams participating in the Formula One World Championship. "

The team went on to say that it would continue to evaluate further legal options and reaffirmed its commitment to the Formula One Teams' Association, the governing body and the commercial rights holder to ensure that the series applies the same rules for all participants and 'move forward methodically and gradually towards reducing costs.'

"If it is not possible for all parties to reach agreement, then in line with the decision of the Main Board, taken on 12th May, Ferrari will not enter its cars in a competition that, with the planned scenario in place, would see a watering down of the characteristics that have endowed Formula One with the status of the most important motor sport series and that have specifically led to the Maranello marque’s uninterrupted participation in the world championship since 1950."

"In this situation, Ferrari will continue to compete in races of a calibre worthy of the marque, matching its level of innovation and technological research," the statement concluded.

Entries for the 2010 season open on Friday and close on May 29th.

Earl ALEXANDER
© CAPSIS International