Jean Todt: 'Ferrari can choose to quit Formula 1'

Jean Todt has said that the FIA cannot be swayed by Ferrari's threats about quitting Formula 1.

Amid Liberty Media's plans for new engine rules and a budget cap for the future, the Italian team are warning that they may not sign up for 2021 and beyond.

"That's their choice," FIA president Todt, who led Ferrari through the ultra-successful Michael Schumacher era, is quoted by Speed Week as saying.

"We do not want any manufacturers to leave the sport.

"Ferrari is an icon and it is unique, and it would be very painful if they were not in formula one anymore. But that's not my responsibility."

Todt said that the decision to sell F1's commercial rights to Liberty a year ago was "right".

"Chase Carey is a great CEO and I recognise a structured organisation with real professionals like Ross Brawn and Sean Bratches. The sport is in good hands," he added.

Ferrari ended 2017 146 points behind winners Mercedes.