Ferrari fails in bid to stop F1 budget cap

A French court has thrown out a bid by Ferrari to prevent Formula One’s governing body from introducing controversial new rules next season.

The ruling on Wednesday was made in a written statement handed to journalists.

Champions Ferrari went to the Tribunal de Grande Instance in Paris to try to stop the International Automobile Federation (FIA) from pressing ahead with an optional $61,98-million cap.

The sport’s most successful and glamorous team have threatened to quit Formula One if the published rules are not rewritten. Renault, Toyota and Red Bull’s two teams have taken a similar stance.

The published 2010 regulations propose allowing teams who accept the cap greater technical freedom than those wishing to carry on with unlimited budgets.

While Ferrari have said this would make it a two-tier championship they cannot accept, Formula One supremo Bernie Ecclestone and FIA president Max Mosley have said they expect all teams to race to one set of regulations.—Reuters

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