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Tuesday, October 28, 2008

Ferrari leaving Formula 1??

MARANELLO, Italy — As though there was not already enough excitement in the Formula 1 circus — just as McLaren F1 driver Lewis Hamilton focuses on clinching the Formula 1 championship at this weekend's Brazilian Grand Prix, and just as Felipe Massa is trying to salvage Ferrari's rather mediocre season by spoiling things for Hamilton — now Ferrari issues another in a series of big threats: to leave F1 altogether.

In a press release sent to Inside Line, Ferrari's industrious spin office chats about the company's 22.3 percent growth in revenue year on year and then segues into a threat to leave what has been called the billionaires' traveling carnival at the end of this season.

An excerpt from the press release: "The board has also examined the new rules proposed by the governing body of Formula 1 in light of the dismal global financial situation.

"The Ferrari board, while it confirms its full commitment to a substantial and needed reduction in costs beginning with engine strategy, has nonetheless expressed its grave concern regarding the "equalizing" or standardization of the engines, a move which would strip Formula One of its very raison d'être based on the spirit of competition and technological development. This is precisely how Ferrari has understood its uninterrupted involvement ever since the inaugural season of the World Championship of Formula 1 in 1950.

"In anticipation of how these various elements may unfold, the Board of Directors exercises its right to reassess, together with its partners, the prospect of continuing its participation in the sport."

Inside Line says: Another indignant stare-down instigated by the Italians! We bet this threat has the controversial Max Mosley feeling like he's been slapped. Oh, wait