Ferrari defends F1 commitment

The reigning world champion's decision has effectively ended hopes of the GPWC forming its own series - and has sparked outrage from several teams who will be pressured into making their own commitment at a meeting with F1 supremo Bernie Ecclestone in London today.

But after declining to comment until now, Ferrari has issued a statement claiming that it kept its fellow GPWC members (Renault, BMW and Mercedes-Benz) fully informed of its plans.

"Back in the end of July 2004, Ferrari had informed in writing the other members of the GPWC that, as from 1st August of that same year, it would not be bound exclusively to the GPWC, while nevertheless remaining part of it," said the statement. "It intended examining the possibility of an agreement with the FIA and FOM regarding the long term future of the FIA Formula 1 World Championship."

Most interestingly, the statement also publicly declared that the more generous terms Ferrari had agreed to with Ecclestone in its new version of the Concorde Agreement, the document by which F1 is run, would come into effect from the start of this year - and not from 2008 after the current deal runs out.

"As a result of what was established in the agreement announced on the 19th of this month, the new version of the Concorde Agreement will come into effect from 2005 on the revenues owed to the signatories thereof," it read.

This latter comment may have been included as a means of putting further pressure on the teams to sign up to a new offer from Ecclestone.