Sports

Ferrari mulls over F1 exit

Ferrari could quit Formula One after 2020 if the sport's new owners take it in a direction contrary to its interests, said chairman Sergio Marchionne.

Marchionne added that while he supports cost-cutting, there were other strategic issues under discussion that could force Ferrari to consider racing elsewhere.

Liberty Media, who took charge of F1 in January, intends to level the playing field and rebalance revenues once the current agreement with teams expires at the end of 2020. It also plans to introduce cheaper engines.

- WIRE SERVICES

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