Binotto 'in denial' over quit threat

Mattia Binotto

(GMM) Ferrari has moved to downplay boss Mattia Binotto's warning that the Maranello team could pull out of Formula 1.

Binotto had warned that a reduction in the budget cap below $145 million could mean "having to look at other further options for deploying our racing DNA".

A Ferrari spokeswoman denied that the comment was a quit threat.

"On the contrary, he said that we would not want to be put in a position of having to look at further options, besides continuing racing in F1, for deploying our racing DNA," she said.

And the Spanish newspaper El Confidencial also quoted Binotto as clarifying his comment.

"To clarify the point: if the budget adjustment is too severe, we would look at other competitions in addition to Formula 1," he reportedly said.

McLaren boss Zak Brown commented on the reports during a video interview with reporters, including Binotto's claim that F1 should not be in a "hurry" with measures.

"I'm almost at a loss what you say to that," he said.

"I think we all recognize that in modern times we are going through the biggest crisis the world has seen. To not be in a hurry to address what's going on, I think is a critical mistake.

"It's living in denial and I think you would find pretty much every president or prime minister or CEO around the world was operating in a hurry to tackle this issue head-on.

"To take our time I think is a very poor leadership strategy," Brown insisted.