Ferrari threaten to quit F1 - On This Day

Ferrari threatened to quit Formula 1, on 29 April 2004, amid growing tensions over a proposed breakaway series by several rival teams.

The dispute stemmed from disagreements over the future direction of the sport, with Ferrari president Luca di Montezemolo making it clear that the team was prepared to leave if necessary.

"I don't think it is possible to find another solution altogether," he stated. "Maybe to save the future of F1, everybody has to take their own decisions, either stop or commit. I don't see a different solution.

"What is for sure is that after the end of 2007, we are free, we have no deal with anybody. After that, everybody can do whatever they want."

When asked directly if Ferrari would consider withdrawing from Formula 1, he responded: "Yes, why not? This could be one idea."

The threat emerged against the backdrop of mounting pressure on the Concorde Agreement, the foundational contract governing how teams compete in Formula 1, which was due to expire at the end of 2007.

Manufacturers including Honda, Renault, Toyota and BMW had formed the Grand Prix World Championship alliance to negotiate collectively for a larger share of the sport's commercial revenue and greater influence over its governance. Ferrari, the sport's most iconic team, found itself at the centre of the dispute.

Di Montezemolo's comments reflected Ferrari's willingness to use the threat of withdrawal as leverage in negotiations, a tactic that would resurface repeatedly in the years that followed.

The threat of a breakaway series resurfaced in 2009, as teams clashed with F1's governing body over financial and regulatory issues. On that occasion, eight teams announced plans for a rival championship, with Ferrari again among those prepared to walk away.

However, a new Concorde Agreement was signed in August 2009, binding Ferrari and other teams to the sport until the end of 2012, ultimately preventing the split.

The 2004 tensions came at a time when Ferrari was dominant on track, with Michael Schumacher and Rubens Barrichello driving the Scuderia to what would become its sixth consecutive constructors' championship.