Ferrari stand by quit threat

Ferrari have said their decision to conditionally sign-up for Formula 1 next season does not mean they will accept the budget cap.

Ferrari and eight other teams have submitted a joint entry for the 2010 season which depends on the sports governing body meeting certain conditions.

One such condition is that the teams can operate under the current technical regulations, with Ferrari boss Stefano Domenicali saying they will still quit F1 should the FIA go ahead with their budget cap of £40million.

"Making the 2009 regulations the starting point means there will be no budget cap," said Domenicali.

Ferrari, McLaren, BMW Sauber, Toyota, Renault, Red Bull Racing, Toro Rosso, Brawn GP and Force India have said that if their own conditions are not met, then this will impact on their entries for next season.

"If the conditions are not met, the entries will be invalid," he added.