Ferrari president misses F1 meeting

Ferrari president Luca di Montezemolo, who has threatened to pull his team out of Formula One unless the 2010 rules are changed, will miss today's crisis talks with Max Mosley after the death of his father.

The champions were represented instead by team boss Stefano Domenicali.



Today's meeting with the International Automobile Federation (FIA) president, who has taken a low profile since the death of his son last week, will seek to end a standoff that threatens to tear the sport apart.



"I think this is a very important day, I think everybody feels we need to find a solution that makes sense for independent teams, manufacturers and the FIA," Williams chief executive Adam Parr told reporters as he arrived at the Heathrow airport hotel.



"Unfortunately we had an opportunity 12 months ago to do it in a more flexible and gentle way, and I fear time is running out."



The FIA want an optional £40m cost cap, offering greater technical freedom than available to those teams staying on unrestricted budgets, that they say is needed for the sport's survival in the face of the global financial crisis.



Ferrari, and former champions Renault, say that will lead to a two-tier championship that they cannot accept and have both threatened to leave.



Toyota and Red Bull's two teams have also said they cannot submit their entries by the May 29 deadline for the same reasons.



Formula One needs Ferrari but the Italian glamour team also need the sport, something that commercial supremo Bernie Ecclestone has been at pains to point out, and some sort of compromise may be inevitable.



"I must be clear that we, Ferrari and the others have no intention of breaking with FIA," Renault team boss Flavio Briatore said on Thursday. "We want to be there, to participate, to preserve the future."



With all eyes on the sport for the showcase Monaco Grand Prix next week, a key race for business and sponsorship deals, the teams will want to remove the doubts about the championship's future as soon as possible.



In contrast to the threats to quit, several would-be newcomers have expressed an interest in joining the championship if the cap stays in place.



Chassis maker Lola said they were forging ahead with their project in the expectation of the budget cap remaining.



"The Lola Group believes that the... decisions relating to cost-capping and the provision of revised technical regulations to facilitate the entry of new teams into Formula One should be embraced," it said.



"This is not only prudent considering the backdrop of global economics but also taking into account the need for new teams to be able to compete credibly against long established entrants.



"It is imperative that performance breaks be afforded to new cost-capped entrants who will have a limited period in which to form teams, design and manufacture their cars."



Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
Latest stories from i100
Daily Quiz
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

Greece says 'No': A night of huge celebrations in Athens as voters decisively back Tsipras and his anti-austerity stance in historic referendum

Greece referendum

Greeks say 'No' to austerity and plunge Europe into crisis
Ten years after the 7/7 terror attacks, is Britain an altered state?

7/7 bombings anniversary

Ten years after the terror attacks, is Britain an altered state?
Beautiful evening dresses are some of the loveliest Donatella has created

Versace haute couture review

Beautiful evening dresses are some of the loveliest Donatella has ever created
No hope and no jobs, so Gaza's young risk their lives, climb the fence and run for it

No hope and no jobs in Gaza

So the young risk their lives and run for it
Fashion apps: Retailers roll together shopping and social networking for mobile customers

Fashion apps

Retailers roll together shopping and social networking for mobile customers
The Greek referendum exposes a gaping hole at the heart of the European Union – its distinct lack of any genuine popular legitimacy

Gaping hole at the heart of the European Union

Treatment of Greece has shown up a lack of genuine legitimacy
Number of young homeless in Britain 'more than three times the official figures'

'Everything changed when I went to the hostel'

Number of young homeless people in Britain is 'more than three times the official figures'
Compton Cricket Club

Compton Cricket Club

Portraits of LA cricketers from notorious suburb to be displayed in London
London now the global money-laundering centre for the drug trade, says crime expert

Wlecome to London, drug money-laundering centre for the world

'Mexico is its heart and London is its head'
The Buddhist temple minutes from Centre Court that helps a winner keep on winning

The Buddhist temple minutes from Centre Court

It helps a winner keep on winning
Is this the future of flying: battery-powered planes made of plastic, and without flight decks?

Is this the future of flying?

Battery-powered planes made of plastic, and without flight decks
Isis are barbarians – but the Caliphate is a dream at the heart of all Muslim traditions

Isis are barbarians

but the Caliphate is an ancient Muslim ideal
The Brink's-Mat curse strikes again: three tons of stolen gold that brought only grief

Curse of Brink's Mat strikes again

Death of John 'Goldfinger' Palmer the latest killing related to 1983 heist
Greece debt crisis: 'The ministers talk to us about miracles' – why Greeks are cynical ahead of the bailout referendum

'The ministers talk to us about miracles'

Why Greeks are cynical ahead of the bailout referendum
Call of the wild: How science is learning to decode the way animals communicate

Call of the wild

How science is learning to decode the way animals communicate