22/05/2009
NEWS STORY
In a move which will surely help the current situation, Bernie Ecclestone has warned that he might sue Ferrari if it walks away from F1 as it is threatening to do.
Under the terms of the old Concorde Agreement of 2005, Ferrari is contractually committed to F1 until 2012, as are all the other teams that signed up at that time.
"We would always respect our contracts," Ecclestone told reporters in Monaco. "All the teams that have signed contracts with us would expect us to respect them and we would expect the same from Ferrari. They are saying they are going to walk, we are saying we hope they respect their contract."
However, the Italian team was quick to react, a spokesman telling reporters: "We are not worried. The (French) court recognised the validity of the Concorde Agreement and we are now deciding whether or not to continue with our legal action. We are hoping it will not come to this and that we can find a way forward.
"But ultimately, if the Concorde Agreement is binding, then the FIA broke it when they changed the sporting rules without respecting the agreed procedures," he added, "which state that only the F1 Commission can do so."