Ferrari ‘looking at IndyCar’ to avoid job losses

Michelle Foster
Ferrari logo

Ferrari logo

Ferrari could enter America’s IndyCar series as the Scuderia looks at ways to avoid massive job losses in the wake of F1’s reduced budget cap.

The Formula 1 team bosses are currently looking over a proposal that would see the budget cap set at $145 million for 2021.

That would drop to $140m for 2022 and $135m for 2023.

Formula 1’s big teams fear it will lead to massive staff cuts as, for a team such as Ferrari, the $145m is about $250m less than what the team spent in 2019.

Ferrari is therefore looking at its options in other series as team boss Mattia Binotto says they have a “social responsibility” to save jobs. quotes the Italian as having told Sky Italia: “Ferrari feels a lot of social responsibility towards its employee. We want to make sure that there will be a workspace in the future.

“For this reason we have started to evaluate alternative programs, and I can confirm that we are looking at IndyCar, which is currently a very different category from ours, but [will be more aligned] with a change of regulation scheduled in 2022 [when hybrid engines are introduced].

“We also observe the world of endurance racing and other series. We will try to make the best choice.”

The Italian, though, made it clear that Ferrari will support Formula 1’s budget cap – at least the $145m.

“The budget cap has been implemented already for 2021 with a view for $175m and we want to reduce it even further, facing this pandemic, and the economic crisis, so we have to reduce that to keep that low. We are about to reach an agreement to $145m,” he added.

“F1 has always had rules and regulations, such as any other sport, they are limits, we set, and the best team is the team that within the limits creates the best performing product.

“This new rule is something we have to fulfil, within limits and boundaries, and we need to do our best. It won’t limit technology and innovation, it’s up to us to do our best.”

Earlier this month former F1 champion Mario Andretti urged Ferrari to consider a move to IndyCar.

“Having Ferrari would be incredible,” Andretti told Italian sports newspaper Gazzetta dello Sport. “Not only as an engine supplier, but also as a chassis builder.

“It is clear that the rules should be changed, but I would like an all-Italian Dallara v Ferrari battle.

“The Cavallino (Ferrari’s Prancing Horse symbol) would increase interest in the championship, but there is an obstacle in the rules.”

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