Ferrari: ''It is good to have discussions about a compromise for F1''

A new budget cap of 145 million dollars will appear in Formula 1 from 2021 and Ferrari has not gone for it. The illustrious team still has the right of veto, but has not used it.

Ferrari does not use veto

"First of all, you need to understand how we're handling this situation. You can either go straight against it, or you can engage in an open discussion in which you search for the best solution together. We have opted for the latter. Using your right of veto is not always the best solution for a situation,'' says Mattia Binotto in conversation with Racefans.net.

Yet it is a surprise that Ferrari has not used it. Over the years Ferrari has forced a luxury position in Formula 1 where they can always compete at the top with a lot of money. However, that will be more difficult now, but Binotto doesn't really care about that.

No Formula E

''It's good to have discussions in order to reach the right compromise. Smaller teams will always want the cap lower, but we also want to keep the DNA and the accompanying technical innovations. Let's start from $145 million and then see how that develops," says Binotto, who clearly indicates that there is a limit for Ferrari.

''Formula 1 cannot become a Formula 2 or Formula E variant. It is and will remain Formula 1 and that means that every manufacturer has to make the most of it in order to be able to continuously deliver technical tours de force. That's F1 and it always has to stay that way'', Binotto concludes.