In many ways, Ferrari is set to be one of the biggest losers, should F1's powers-that-be get their way in terms of the proposed rules package for the sport post-2020.

Though the details have not been made public, and the big teams are not keen to discuss them, it believed that at this week's meeting of the Strategy Group the teams were informed not only of changes to the technical rules, but the plans for a budget cap, the doing away of bonuses and a more equal division of the prize pot.

Ferrari has already made clear that it will not accept rule changes that compromise its DNA, though this mainly applies to the engine rules, which do not look to be facing the radical overhaul originally planned anyway, but taking way, even seriously reducing, its historic bonus, while asking it to take a smaller slice of the prize pot cake and telling it what it can spend, that's another matter entirely.

Nonetheless, speaking in Bahrain, where the team was joined by chief executive Louis Camilleri, Binotto, publicly at least, was all smiles, insisting that things are progressing, with all the conviction of a politician or a football team owner addressing speculation over his team's current manager.

"We are collaborating well with both the FIA and F1," the Italian told reporters. "However, there are still points where there is some distance compared to the position on what we believe should be the right Ferrari position.

"We are still discussing, and I think it will be good for F1 to find the right agreement," he added. "I'm pretty sure we will do it."

The very fact that none of the big teams are even mentioning this week's meeting, far less admitting agreement or threatening to quit, suggests there are still some serious obstacles in the way, a situation not helped by the fact that the June deadline is fast approaching.

Asked what the main obstacles are, or when they might be resolved, Binotto adopted the default tight-lipped position.

"I think for us it will be more important to make sure that we've got the right agreement and we should not be caught by time," he said. "I am positive on the level of discussion and collaboration we've got so that's why, I think, we will find the right balance."

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