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AP
Court rejects Ferrari's bid to stop F1 budget caps
A French court on Wednesday dismissed Ferrari's bid to stop Formula One from instituting a budget cap next season, and the Italian team reiterated its threat to pull out of the 2010 championship.
Ferrari sought a court injunction against governing body FIA's plans to introduce a voluntary $60 million (NZ$99 million) cap for racing teams, but the appeal was rejected by Judge Jacques Gondrand de Robert.
"There is no imminent damage that needs to be prevented or clearly unlawful unrest that needs to be stopped," the judge said.
Ferrari, Renault, Toyota, Red Bull and Toro Rosso have said they could withdraw from next year's championship if the cap isn't overturned.
The judge accepted Ferrari's legal right to challenge the plans but agreed with the FIA that the team should have taken its case earlier to the World Motor Sport Council.
"No competitor should place their interests above those of the sport in which they compete," FIA president Max Mosley said after the ruling. "The FIA, the teams and our commercial partners will now continue to work to ensure the well-being of Formula One in 2010 and beyond."
Ferrari said it hadn't decided whether to continue with legal action, adding it wants to ensure that "Formula 1 is a series where the rules are the same for everyone" and where cost cuts are "gradual."
"Ferrari will not enter its cars in a competition that, with the planned scenario in place, would see a watering down of the characteristics that have endowed Formula 1," Ferrari said in a statement.
The team hinted it would consider competing in a breakaway series.
