Change doesn't appeal to Ferrari

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Following a meeting of Ferrari's board of directors in Maranello, the sport's most famous brand could walk away if Mosley and the FIA do not alter their plans.

A Ferrari statement read: "The board of directors examined the proposed changes to the Formula One regulations in light of the current global economic crisis."

It continued: "Whilst reiterating its wholehearted commitment to a substantial and needed reduction in costs in Formula One, starting with propulsion, the board expressed strong concerns regarding plans to standardise engines.

"It felt such a move would detract from the entire raison d'etre of a sport with which Ferrari has been involved continuously since 1950, a raison d'etre based principally on competition and technological development.

"The board expressed the opinion that should these key elements be diminished, it would have to re-evaluate, with its partners, the viability of continuing its presence in the sport."

Motorsport's world governing body dropped a bombshell 10 days ago when they opened a tender process to standardise both engines and transmissions from 2010 through to 2013.

It is part of FIA president Max Mosley's cost-cutting drive in F1, however, the ramifications of such a decision were always going to be far reaching.

Toyota Motorsport president John Howett has today echoed Ferrari's sentiments.

"I don't think any of the manufacturers want a homogenised engine," said Howett.