F1: Ferrari threaten to quit Formula One after 2020

Ferrari is the only team to have participated in every season of Formula One motor racing since 1950 but come 2020 this iconic team may no longer be a part of the racing competition. Ferrari chairman Sergio Marchionne has threatened to quit Formula One racing if its new owner Liberty Media continues to press on over new engine rules.

Earlier, Liberty Media announced several changes to the engine regulations aimed at cost reduction.

Chairman Marchionne agreed with the cost-cutting reasons, but stated that there were other strategic issues that could force Ferrari to think over racing elsewhere.

"It (Formula One) has been part of our DNA since the day we were born, but if we change the sandbox to the point where it becomes an unrecognizable sandbox, I don't want to play anymore," Marchionne was quoted, as saying by the Independent.

The chief executive said that he would take Ferrari to another level to replace Formula one and would not be known as the man who led Ferrari away from Formula One.
Marchionne said, "Like a million bucks because I'll be working on an alternative strategy to try and replace it. More rational one, too."

Ferrari are the only team to have competed in the Formula One World Championship continuously since its inception in 1950.