Ferrari plays down Formula 1 exit talk
14 June 2014 – Ferrari has labelled as "pure speculation" media reports suggesting that it could call time on its Formula 1 team in favour of a return to endurance racing and the prestigious 24 Hours of Le Mans event.
The outfit's clarification comes in the wake of company President Luca di Montezemolo venting his frustrations about the current state of Formula 1, which embarked on a new turbocharged power unit era this season.
"Formula 1 isn't working," di Montezemolo told the Wall Street Journal. "It's declining because [the FIA] have forgotten that people watch the racing for the excitement. Nobody watches racing for the efficiency, come on."
On the subject of Le Mans, di Montezemolo said that while he is open to the idea of a full works effort, Ferrari would not be able to combine it with its current commitments: "We cannot do sportscar racing and Formula 1."
With di Montezemolo's comments leading to suggestions of an exit, Ferrari has chosen to speak out.
"To say that after [the Concorde deal expires in] 2020, Ferrari could quit Formula 1 to concentrate on Le Mans and the Endurance championship takes his words to extremes," read a statement issued by the team.
"Plus of course, there's nothing to stop Ferrari upping the ante and competing in both disciplines. So it's just pure speculation."