Motor racing-Ferrari eye other competitions after F1 threat

By Mark Meadows

MILAN, May 13 (Reuters) - Ferrari will race in other series if they quit Formula One at the end of the year and the fans will follow them, president Luca di Montezemolo said on Wednesday.

The Italian team, the sport's oldest and most successful, said on Tuesday they would not enter the 2010 championship unless plans to introduce a budget cap are abandoned. Toyota, the two Red Bull teams and Renault have made similar threats given that the plans would allow capped teams to operate with far greater technical freedom than those continuing with unlimited budgets.

"If it really was like that, then I have to say that our cars will race in other competitions, where -- and I am absolutely convinced about that -- they will find the enthusiasm and the passion of millions of fans," Montezemolo told the Ferrari website (www.ferrari.com).

"Racing is part of Ferrari's DNA and this is something that will never change."

Media reports have speculated that the Formula One champions might set up a rival series, compete in the United States, or enter cars in the Le Mans 24 hour race.

TOO BAD

Ferrari drivers Felipe Massa and 2007 world champion Kimi Raikkonen said it would be a big blow not to have Ferrari in Formula One but they understood the reasons why.