First it was the Canadians with the unexpected cancellation of the Canadian Gran Prix, followed by the French with the withdrawal of the French Grand Prix, now its Ferrari’s turn. The board of Ferrari released a statement on Monday, announcing that they intend to review any further participation in Formula One if plans to standardize engines and transmissions by 2010 go through. The plans, which are a part of a much broader proposal to help cut costs in Formula One, were released by the FIA last week.

“The board of Ferrari, confirming its full support for the substantial and necessary reduction in costs starting with engines, has however expressed strong reservations about the project to equalize or standardize engines…The board reserves the right to consider, together with our partners, our presence in this discipline,” the statement said.

(Source: Espn)