Ferrari to spend more money in 2020

Louis Camilleri

(GMM) Ferrari CEO Louis Camilleri says the Italian marque is prepared to spend more on Formula 1 ahead of the 2020 and 2021 seasons.

Actually, Liberty Media is trying to ramp down the spending of the top teams, imposing a budget cap for 2021 and beyond.

But Camilleri said this week that an increased budget for 2020 is on the cards.

"This year will be quite critical," he is quoted by La Gazzetta dello Sport.

"Our ambition as always is to try to win and therefore we will continue to invest in our infrastructure, resources and technologies, as we continue to develop the 2020 car and the season progresses."

The likelihood of even bigger spending this year has been clear for some time, because the budget cap will only come into force in 2021, long after preparations for the all-new regulations are in full swing.

Camilleri said: "The new technical regulations that come into force in 2021 will involve the development of a very different car, which will require additional resources and expenses this year.

"There will be significant investment growth," he added.