Ferrari's veto power to be addressed

FIA's president Jean Todt has revealed that discussions with Ferrari in regards to their future in Formula One will include addressing the Prancing Horse's current right to veto certain rulings implemented by the governing body - a right they have had for decades.

Ferrari are the only team to have been involved in every season in Formula One since the sport started, and with that longevity has come power and a voice in the ear of rule makers.

They last utilised their right to veto in 2015 to block a rule which would have seen manufacturers supply engines at lower prices. Todt has revealed that this veto right is going to be discussed with Ferrari soon.

“It is decades that Ferrari has what is called this veto right,” Todt told a media briefing in Abu Dhabi.

“When we are going to discuss about the renewal of the agreement, it is part of the things which will be discussed."

Ferrari have been threatening to leave the sport for a while now, with CEO Sergio Marchionne regularly criticising the owners of F1, Liberty Media, for their current proposals which would see engines standardised and finances more evenly distributed among constructor teams.

Todt managed the Scuderia team between 1994 and 2007, and has insisted that both parties would be worse off if Ferrari left Formula One.

"Am I afraid to see Mercedes or Ferrari leave? That’s their choice,” he said.

“What is sure, we don’t want anybody to leave. But of course Ferrari is one of the iconic brands. It’s a company, a team, which has been participating in every single Formula 1 championship since its creation.

“So I don’t want to see Ferrari leaving, I’m not sure if it would be a good thing for Ferrari to leave Formula 1, because why it is a unique brand is because it’s such combined between racing and road cars.

“I think it will be also painful for Ferrari not to be in Formula 1, but that’s not my responsibility anymore.”