Ferrari F138 launch, 2013

Ferrari deny report of £250m F1 budget as “fantasy”

2013 F1 seasonPosted on | Author Keith Collantine

Ferrari have denied a three-month old report claiming their F1 team has a budget of a quarter of a billion pounds.

The team used its anonymous ‘Horse Whisperer’ column on its official website to refute the figure.

“When the championship finishes, the moment arrives to take stock,” said the article. “If it’s enough in sport to look at the points standings, in business some trust in summer valuations, even if they are carried out under a parasol.”

“For that reason, months later, a reconstruction of the budgets of Formula One teams developed by an Autosport colleague has transformed itself into journalistic fact. It’s a pity that the cited figures are largely fantasy and they can draw even distinguished newspapers into conclusions that are wildly erroneous.”

However Ferrari refused to confirm the true cost of their F1 operations: “It would be easy to deny the figures with facts but the truth about business matters has to stay confidential: this too, like technology, is a crucial factor in competition.”

Ferrari appear to be referring to a figure estimated by Dieter Rencken in August*. His article claimed Ferrari had the largest budget of any team, around £15m higher than Red Bull’s and £90m more than any other team.

Ferrari ended the 2013 season third in the constructors’ championship behind Red Bull and Mercedes.

*Paywall link