Ferrari retains power of veto

Ferrari chairman, Louis Camilleri has revealed that the Italian marque has retained its controversial right of veto over rule changes.

It was expected that Ferrari would lose the right as part of the overhaul the sport is to undergo in 2021, but with doubt over the futures of both Mercedes and Renault, and Honda announcing only a one-year extension to its contract with Red Bull and Toro Rosso, F1 bosses appear to have been keen to keep the Italian team sweet.

Though a number of teams, especially the likes of Mercedes and Red Bull, are unhappy with the veto, Ferrari insists that it enables it to work for the benefit of all the teams.

Indeed, Camilleri claims the veto will allow his company to be the “adult in the room” as the sport moves forward.

“We have retained the veto rights and those are critical not just for Ferrari but for F1 as well,” he said, according to the Financial Times.

“Will we ever use it? I doubt it,” he added, though the team has used it. “But just the fact of having it, does it get people’s attention? I think so.

“It’s something I think is important,” he continued. “Some of the teams think it’s anachronistic and shouldn’t be there, but on the other hand some think it’s a good idea to have an ‘adult’ in the room.”

Ferrari previously used the veto to block the move for a price cap for engines in 2015, while it has since voiced its displeasure at talk of the move towards more standard parts.

“We are very committed,” he said, the words which have no doubt swayed F1 and FIA bosses who wanted to do away with the team’s right of veto. “The Concorde Agreement is really a beginning, it’s not even the end of the beginning.

“Things will need to evolve over the coming months,” he added, “but the basic principles everyone agrees to and that’s healthy. There’s still lots of things to do.

“The key is to ensure F1 will always remain at the pinnacle of motorsport and there will be sufficient room for technological creativity and innovation, which has been the driver of F1 historically.

“A year ago there was a push for standardisation of parts, but that has been diluted significantly, which is a good thing.”