Daylife/Reuters Pictures used by permission

Ferrari have threatened to quit Formula 1 at the end of the season if the sport continues with plans to introduce an optional £40m budget cap from 2010. “If the regulations for 2010 will not change, then Ferrari does not intend to enter cars in the next Formula 1 world championship,” read the statement.

Ferrari fear the evolution of a two-tier championship, between those teams who adopt the cap and those who do not.

“Fear the evolution”? How about diluting the concept of the most demanding motorsport in the world into an “A” league and a “B” league?

The teams will discuss the plans with FIA chief Max Mosley in the next week. But motorsport’s governing body, the FIA, has so far refused to be drawn into a public discussion about Ferrari’s threat.

Ferrari insist their announcement is not simply posturing or a political move. “The board consider that if this is the regulatory framework for F1 in the future, then the reasons underlying Ferrari’s uninterrupted participation in the world championship over the last 60 years – the only constructor to have taken part ever since its inception in 1950 – would come to a close.”

Though I haven’t been a Ferrari fanboy in a long time – cripes! I haven’t been any kind of “boy” in a long, long time – losing the prancing horse would be sufficient for my own unnoticed departure.

Too bad, really. This has been turning into one of the most interesting seasons since I followed battles between Ascari and Fangio. But, if Mosley can’t screw up the sport entirely on his own – he can always ask Bernie for advice.