Ferrari left to consider options

World motor sport's most iconic marque have since been chastised by FIA president Max Mosley for their selfish attempt to disrupt F1.

"No competitor should place their interests above those of the sport in which they compete," chided Mosley. "The FIA, the teams and our commercial partners will now continue to work to ensure the well-being of Formula One into 2010 and beyond."

But Ferrari may have lost this battle, but not the war in the wake of Wednesday's ruling by the Tribunal de Grande Justice in Paris.

The Tribunal recognised Ferrari have a right of veto with regard to new rules drawn up by the FIA, a special arrangement that came into force between the team and governing body in 2005.

The Tribunal maintain such a veto should have been exercised at the World Council meetings of March 17 and April 29 when Mosley and the FIA unilaterally decided to impose a budget cap from next season, but as the dispute is a contractual matter, the Tribunal have made it clear a decision is beyond their remit, and instead is one for the civil courts.

In the wake of Mosley's admonishment, Ferrari must now opt whether to pursue such an avenue and cause further disruption.

A Ferrari statement read: "While continuing to evaluate whether or not to continue with this legal action already under way, Ferrari confirms its commitment to work within FOTA, in conjunction with the FIA and the commercial rights holder (Bernie Ecclestone) to ensure Formula One is a series where the rules are the same for everyone and which benefits from stability in the regulations, while continuing the work of the past few months in moving forward methodically and gradually towards reducing costs.

"If it is not possible for all parties to reach agreement, then in line with the decision of the main board, taken on May 12, 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 One with the status of the most important motor sport series and that have specifically led to the Maranello marque's uninterrupted participation in the world championship since 1950.

"In this situation, Ferrari will continue to compete in races of a calibre worthy of the marque, matching its level of innovation and technological research."