Ferrari denies quitting F1 rumours by slamming British newspaper for misleading headline

Formula 1 team Ferrari slammed British media publication Guardian on Thursday for writing a misleading headline over Ferrari F1 team principal Mattia Bitto's comment about reduction of budget cap in F1. According to previous report published, it was claimed that Mattia Bitto warned about Ferrari considering ir Formula 1 future if severe budget caps are imposed. 

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Ferrari clears air over quitting F1 

According to latest report published by RaceFans, Ferrari has issued a statement in which y have denied claim made by team principal Mattia Bitto that Ferrari going out of F1 is a possibility if budget cap is lowered furr. In statement, Ferrari clarified that Bitto never mentioned about Scuderia Ferrari quitting F1 but on contrary, said that y would t want to be put in a position of having to look at furr options, besides continuing racing in F1 for deploying ir racing DNA, in case budget cap would be even more drastically reduced, putting at risk hundreds of workplaces.

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Slamming Guardian, Ferrari said that misunderstanding happened due to misleading headline of article which was published at first and was immediately corrected. statement said that news piece was originally titled “Ferrari prepared to quit F1 if budget cap imposed, warns Mattia Bitto”, but later on it was renamed to “Ferrari to evaluate F1 future if budget cap imposed, warns Bitto”.

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 Here's what Mattia Bitto had to say about reduction of budget cap in F1 

During interview, Bitto said that $145 million is already a new and demanding request compared to what was discussed in June 2019. He added that new request cant be attained without significant sacrifices, especially in terms of our human resources. Bitto furr said that if budget cap gets even lower, n Ferrari would t want to put itself in a position of having to look at or furr options for deploying our racing DNA.

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Ferrari F1 team Principal also said that in F1, re are teams with different characteristics and y operate in different countries, under different legislation and with ir own ways of working. refore it is t simple and straightforward to make structural changes simply by cutting costs in a linear fashion. 

Sebastian Vettel's Ferrari future in doubt 

3-time F1 champion Sebastian Vettel's future with Ferrari is in serious doubt after German rejected a one-year contract extension. According to a report published by Essentially Sports, re are rumours that Sebastian Vettel is unhappy with proposed contract and is looking to get a looking at a multi-year contract with a salary much higher than what Ferrari is currently offering as part of its new deal. Earlier, Sebastian Vettel had stated his desire to continue driving for Ferrari with his current deal set to expire at end of 2020.