With Adrian Newey recently signing a new contract with Red Bull, Ferrari explained their difficulties trying to tempt the Formula 1 tech chief to Italy.
The 64-year-old has long been regarded one of the keys to championship success, with the Briton designing title-winning Formula 1 cars for Williams, McLaren and Red Bull.
As such, Newey was reportedly linked with poaching attempts from the likes of Mercedes and Ferrari, as Red Bull's rivals aim to return to the front of the F1 grid.
However, Newey recently signed a contract extension with the Milton Keynes team to end speculation about his future.
The Vice Chairman of Ferrari, Piero Ferrari, son of founder Enzo was asked about the previous rumours, to which Ferrari explained the difficulties with encouraging Newey to relocate to Italy.
“He said no to [former Ferrari Chairman Luca di] Montezemolo and to [former Ferrari manager] Jean Todt,” Ferrari told Italian publication Autosprint.
“Apparently, he doesn’t want to move - he likes living in England.
“And apart from that, his undisputed skills aside, he doesn’t do it alone. He has a very good team around him.”
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Ferrari points to cost cap difficulties
Ferrari were expected to be fighting Red Bull, and possibly Mercedes, in both World Championship in 2023, following their disappointing end to the previous season.
However, the team have struggled to make the podium this season, with Ferrari taking just one third place and one Pole Position with Charles Leclerc at the Azerbaijan GP.
When asked about the season so far, Ferrari suggested that the 2023 status quo might remain the same with the team having to balance the spending on the 2024 car.
"We knew it would be difficult. Now we have to race with what we have," added Ferrari.
"But solutions, in Formula One, that's complicated. There are limits of the budget cap, you can do things, but not everything you would like to do.
"The is problem is that, with the maximum expenditure you can make, you have to make a choice between how much you want to spend to improve this year's car, without short-changing the work for the 2024 car."
Balve Bains is joined by RacingNews365.com Editorial Director Dieter Rencken and Asia Correspondent Michael Butterworth to ask if Mattia Binotto could really join Alpine, what Pirelli's new tyres are about and the latest on the Red Bull-Ford partnership!