9:05pm UK, Tuesday May 12, 2009
Ferrari will not follow through with its threat to pull out of Formula One, Eddie Jordan has told Sky News.
Ferrari's cars could be absent from the race grid next year
Speaking on Jeff Randall Live the former motor racing team owner said the Italian team has more to lose from such a move than the sport's organisers.
"Formula One used to need Ferrari, I think now it's got so exciting with young teams coming through, I think Ferrari needs Formula One.
"Overall I think this is a bit of posturing.
"My guess is Ferrari will never go because they are linked to this, they are absolutely joined at the hip with Formula One. It is their only marketing programme."
Ferrari has said it has quit next year's Formula One Championship because of their opposition to the new technical regulations adopted by the FIA.
In a short statement on the team's website, motor racing's most famous team said they will not be on the grid in 2010.
"We confirm our opposition to the new technical regulations adopted by the FIA and do not intend entering our cars in the 2010 F1 Championship," the statement read.
Ferrari are among several teams to have been angered by the FIA's plans to impose a £40m budget cap on teams from next year, and its move will hugely increase the pressure on FIA president Max Mosley to find a compromise.
FIA president Max Mosley
Crunch talks were already planned in the next few days with the May 29 deadline for 2010 entries fast approaching.
Prior to the Spanish Grand Prix, Toyota boss John Howett said his team were unlikely to commit by that deadline if the FIA pressed ahead with their plans, but it is Ferrari who have made the move first.
Ferrari are the only team to have contested every season of the world championship since the modern format was introduced in 1950.
But more than that, the tradition of the famous prancing horse has long been synonymous with the sport, and the team are the most popular among F1 fans.
The decision to threaten to pull out of the 2010 championship came at a meeting of the Ferrari board of directors in Maranello today.
Ferrari believe the FIA's new regulations would lead to an unacceptable two-tiered F1 championship, which they consider would be "based on arbitrary technical rules and economic parameters".
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