'It will be painful for Ferrari not to be in Formula One'

FIA president Jean Todt has confessed that he does not want Ferrari to follow through on their threat to leave Formula One due to the new engine changes proposed by Liberty Media, but insists that it would be bad for the Scuderia as well as F1 if the partnership ended.

Liberty Media are the new owners of Formula One and have proposed many alterations to the sport in order to broaden the reach of its fanbase. These changes include fuel-saving during races, a three-engine limit to a season, cheaper and noisier engines, and a more even spread of revenue across the constructor teams in order to level the playing field.

Ferrari, along with Renault and Mercedes, have been the biggest critics of the changes, and Ferrari president Sergio Marchionne informed shareholders and investors that the organisation was not happy with the engine proposals in particular, which would come into place in 2021 if given the go-ahead.

Todt is the current chairman and president of Formula One's governing body, the IFA, but was also previously in charge of affairs at Ferrari. He does not want the Scuderia to leave as he believes it would not benefit the team or the sport overall.

"I do not want to see Ferrari leaving, but I am not sure it will be a good thing for Ferrari to leave Formula One," Todt said at the season-ending Abu Dhabi Grand Prix at Yas Marina.

"Ferrari is a unique brand, combined between racing and road car, so I think it will be painful for Ferrari not to be in Formula One."

Ferrari are one of the most powerful teams in the sport and are the only constructors who have been involved in every world championship since the maiden competition in 1950. They receive extra funds for their historical status in the sport and also have special rule veto privileges.