Ferrari board to discuss F1 future

By Pablo Elizalde

Monday, May 11th 2009, 16:45 GMT

Ferrari's board of directors will discuss the Italian squad's future in Formula 1 tomorrow, the team announced on Monday.

Amid growing tension between the teams and the FIA over the introduction of a budget cap for 2010, Ferrari said in a statement on Monday its board will analyse the current situation and its future involvement in F1.

Ferrari president Luca di Montezemolo and FIA president Max Mosley have been at loggerheads over the introduction of the budget cap, which the Italian reckons could damage the sport.

Mosley said earlier this month that Formula 1 could survive without Ferrari, the only team who has competed in every championship since 1950.