Ferrari’s Camilleri sees F1 budget cap ‘in everyone’s best interest’

Ferrari CEO Louis Camilleri agrees with the idea of a budget cap in Formula 1, insisting the concept “makes sense”, although the emergence of an agreement remains a lengthy process.

Camilleri, who followed Sergio Marchionne at the helm of Ferrari last summer, was initially expected to adopt the rigid anti-budget cap stance of his predecessor, but the executive actually believes the idea has merit.

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"I think there’s been progress on the technical specifications, but in terms of the budget cap and economics, there really hasn’t been any progress," Camilleri said in a conference call with investors this week following Ferrari’s quarterly results.

"Obviously the economics are also linked to the budget cap. I think that a budget cap eventually makes sense but the devil is in the detail and I think it’ll eventually be in everyone’s interests but we’re not there yet."

The Ferrari boss also addressed the Scuderia’s 2018 campaign which saw the Italian squad deliver a strong performance until it lost its footing on the back of a string of mishaps and disappointing races.

Ultimately however, Camilleri believes Ferrari enjoyed its strongest year since 2008, when it last won the F1’s Constructors’ championship.

"Clearly winning for us is a priority, it’s part of our heritage,” he said.

"This year was somewhat unfortunate, we came very, very close and hopefully next year we can get there to…not much to add other than it’s very important and we’re doing everything we can to win,” he added.

"What I would say is in 2018 just based on the numbers it was probably our best season since 2008, we’re making progress, we’re not quite where we want to be and we’ll see where we are next year."

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