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F1 legend Michael Schumacher with Jean Todt (current FIA president) and former Ferrari president Luca di Montezemolo (right) at the 2006 Italian GP

Jean Todt says the FIA cannot be swayed by Ferrari’s threats about quitting Formula one.

Amid Liberty Media’s plans for new engine rules and a budget cap for the future, the Italian team is warning that it may not sign up for 2021 and beyond.

“That’s their choice,” said FIA president Todt, who led Ferrari through the ultra-successful Michael Schumacher era.

“We do not want any manufacturers to leave the sport.

“Ferrari is an icon and it is unique, and it would be very painful if they were not in formula one anymore. But that’s not my responsibility,” the Frenchman is quoted by Speed Week.

Todt said the decision to sell F1’s commercial rights to Liberty a year ago was “right”.

“Chase Carey is a great CEO and I recognise a structured organisation with real professionals like Ross Brawn and Sean Bratches. The sport is in good hands,” he added.

Ferrari’s F1 latest quit threat is real – Ecclestone

Ferrari’s reverberating to quit F1 over the sport’s planned upcoming rules and regulations should be taken seriously by Liberty Media, according to former F1 boss Bernie Ecclestone.

FOM and new F1 owner recently unveiled a proposal of new changes about F1’s power unit regulations for 2021 with the aim of producing simpler, cheaper and louder engines.

Top two engine makers Mercedes and Renault stated doubts over the new plans, while Ferrari president Sergio Marchionne said F1’s most well-known team “will not play” unless circumstances are favorable.

The Italian F1 outfit has issued a number of quit threats in the past and failed to carry them out, but former F1 CEO Ecclestone believes the Ferrari’s latest warning should not be taken informally.

“If they can’t win, they will put forward new regulations,” Ecclestone told The Independent on early of this month.

“If the regulations come out where Ferrari think it is going to be a struggle and they can’t support the money then they will leave.”

“They don’t want budget caps and all that,” Ecclestone added. “They want to spend what they can afford to spend and I’ve always said the same thing. If people can’t spend they have to go.

“If there are then only three or four teams something would have to be done but until that actually happens nobody is going to do anything. All the teams that say they can’t afford it shouldn’t put an entry in.”

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