Ferrari could quit F1 over new proposals

The Ferrari chief pinpointed proposals for a new engine design from 2021 as he made the threat in a conference call with investors.

Marchionne said F1 had been "part of our DNA since the day we were born".

But he added: "If we change the sandbox to the point it becomes unrecognisable, I don't want to play any more."

His concerns follow objections from both Mercedes and Renault over plans for a new engine design that were presented jointly on Tuesday by governing body the FIA and the F1 Group, which was bought by Liberty earlier this year.

Liberty is expected to outline further details of its plans for the sport, including how to instigate a budget cap.

Marchionne said: "Liberty has got a couple of good intentions in all of this, one of which is to reduce the cost of execution for the team, which I think is good. There are a couple of things we don't necessarily agree with, one of which is the fact that somehow powertrain uniqueness is not going to be one of the drivers of distinctiveness of the participants' line-up. I would not countenance this going forward. The fact we now appear to be at odds in terms of the strategic development of this thing, and we see the sport in 2021 taking on a different air, is going to force some decisions on the part of Ferrari. I understand Liberty may have taken these into account, but it needs to be absolutely clear that unless we find a set of circumstances, the results of which are beneficial to the maintenance of the brand, and the marketplace, and to the strengthening of the unique position for Ferrari, Ferrari will not play."