Sergio Marchionne: 'Fiat quit threat is serious'

Sergio Marchionne has reiterated his threat to pull Ferrari out of Formula 1 after 2020.

In fact, the Fiat CEO is now also threatening to withdraw Sauber's newly-announced Alfa Romeo sponsorship, over the dispute with Liberty Media about future rules.

"We are serious and need to find a solution, and I think Chase [Carey] understands that we cannot back down," Marchionne said.

Marchionne's latest threat has curious timing, given that the new Alfa Romeo-Sauber partnership is being touted as a 'long term' one.

"Such projects are always designed for the long term," confirmed Sauber team boss Frederic Vasseur.

However, Marchionne said that the deal is in fact only guaranteed for 2018, 2019 and 2020.

"The Alfa Romeo agreement with Sauber expires in 2020-2021," he told La Gazzetta dello Sport, "when Ferrari could go out of Formula 1.

"We have to find a solution for the sake of the sport. A compromise must be found."

Mercedes boss Toto Wolff recently echoed Ferrari's threat to quit the sport in future over rule changes.