Ferrari’s F1 Quit “Serious” Says Sergio Marchionne

Credit: Scuderia Ferrari

Sergio Marchionne assist that Scuderia Ferrari‘s threat to quit Formula 1 is “serious”, despite the arrival of Alfa Romeo in 2018.

Ferrari’s sister brand, Alfa Romeo will enter the sport in 32 years as a title sponsor for the Sauber F1 Team, re-branding as Alfa Romeo Sauber F1 Team in 2018.

But the Italian giants, who have competed in F1 since 1950 could be heading for the exit door in 2020 if they don’t agree to Liberty Media‘s plans for the future of the sport. Rumours suggest that it could involve a reduction of prize money.

Chairman of Ferrari, Sergio Marchionne was in attendance at the Alfa Romeo Sauber F1 Team press conference and said during his speech that the new deal between Alfa Romeo and Sauber doesn’t indicate a change of heart of his quit threat.

“The dialogue has started and will continue to evolve. We have time until 2020 to find a solution which benefits Ferrari,” said Marchionne.

“The threat of Ferrari leaving Formula 1 is serious. The agreement with Sauber expires in 2020-2021, right when Ferrari could leave.”

“We have to find a solution which is good for the sport, but we also have to be clear on the things we can’t back down on.”

Liberty Media is set to outline new plans with teams over the future of the sport, with even more distribution of the prize money in a bid to even the playing field.

Ferrari often receive the most prize money every year due to their bonus for its commitment for the sport that no other team receives.