Ferrari hits out at “wildly erroneous” budget claims

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Ferrari has hit out at press reports claiming its F1 team’s budget exceed $400 million.

F1 team budget are a closely-guarded secret but Autosport published an analysis by Dieter Rencken in August (paywall) claiming Ferrari were spending more than any team on the grid, including world champions Red Bull.

The Italian team finished third in the constructors’ championship this year behind Red Bull and Mercedes, focusing more attention on its expenditure compared to rival teams.

In an anonymous post on its official website Ferrari attacked the reports as inaccurate:

“When the championship finishes, the moment arrives to take stock. If it’s enough in sport to look at the points standings, in business some trust in summer valuations, even if they are carried out under a parasol.

“For that reason, months later, a reconstruction of the budgets of Formula One teams developed by an Autosport colleague has transformed itself into journalistic fact. It’s a pity that the cited figures are largely fantasy and they can draw even distinguished newspapers into conclusions that are wildly erroneous.

“It would be easy to deny the figures with facts but the truth about business matters has to stay confidential: this too, like technology, is a crucial factor in competition.”