Bernie Ecclestone has pooh-poohed the latest threat from the teams in terms of a breakaway series, describing Luca di Montezemolo's comments as "complete nonsense".

Speaking to reporters at the Italian team's traditional Christmas dinner for the media, di Montezemolo warned that unless the teams get a bigger slice of the cake in the next Concorde Agreement they will seriously consider forming their own breakaway series - a threat made many, many times before.

Indeed, as the Ferrari president spoke of the teams' hardship there were echoes of (footballer) Ashley Cole's claim that the offer of a £10,000 a week pay rise from Arsenal - which would have taken him up to £35,000 a week - was a "p*** take" and a "slap in the face". "We have Formula One in our hearts and minds but we do not want to be locked in a Formula One prison," declared di Montezemolo.

Talking to Reuters, Ecclestone, who has already been mugged once this month, made it clear that he isn't taking Ferrari's threat too seriously.

"It's what he says every time he goes to Monza every year," said the Englishman. "'We need more money'. It's all nonsense. They're not going to break away. They've tried it all before.

"Luca's a lovely guy," he continued, "but he likes to say these things and then he forgets what he is saying.