Sep.8 (GMM) F1 power players Bernie Ecclestone and Jean Todt on Friday met with Ferrari president Luca di Montezemolo at the fabled Italian team's Maranello headquarters.

Ferrari admitted the meeting was "cordial and productive", but it comes at a fascinating and awkward time for formula one, as all three sides clash over key issues.

Ecclestone and Todt, for instance, are arguing over the FIA's desire to make more money from the sport, while Montezemolo is being told by Todt to pay much more for entry fees next year.

The Ferrari president, meanwhile, slammed as a "joke" Todt's vision of electric cars on the grid.

Montezemolo is not even ruling out Ferrari quitting the sport.

"If formula one is not any more an extreme technology competition, where the technology can be transferred to the road car, maybe we can see formula one without Ferrari," he told CNN this week.

Todt, however, who revealed that Stefano Domenicali was also at the Maranello meeting, is putting his mind to attracting new manufacturers to F1, whilst ensuring that Mercedes' argument with Ecclestone does not cause the German carmaker to quit.

"I don't think that will happen, but we must do everything to keep them in formula one," he told Italy's La Gazzetta dello Sport.

And: "Maybe I can get some manufacturers who are involved in long-distance races - Audi, Toyota, Porsche and the Koreans - to produce engines for F1," said Todt.

The key, he said, is cutting costs.

"Since 2005 we have reduced the cost by 30 per cent, but in the next three years we need another 30 per cent or we risk losing some teams," said Todt.

Latest F1 News - Mobile version

26 Feb: New Ferrari not quickest in field - Domenicali 26 Feb: Red Bull still best in 2013 - Tost 26 Feb: 2014 French grand prix 'possible' - Prost 26 Feb: Danica Patrick 'not interested' in F1 switch 26 Feb: Report - Gilles Simon working on F1 engine for Honda 26 Feb: Gutierrez plays down link to Carlos Slim 26 Feb: Caterham exhaust 'legal' insists van der Garde 26 Feb: McLaren replaces Mercedes-bound Lowe 25 Feb: 'Engine maps' trouble for Red Bull, Lotus - report 25 Feb: Mercedes-bound Lowe to miss 2013 opener - report 25 Feb: Mercedes 'in group of teams' behind Red Bull - Lauda 25 Feb: Gutierrez expects Hulkenberg to beat him early in 2013 25 Feb: New Ferrari 'much better' than 2012 - Massa 25 Feb: Teams 'will adapt' to new tyre situation - Gutierrez 25 Feb: Tight rules make today's F1 cars 'the same' - Forghieri 25 Feb: Williams removes controversial exhaust trick 25 Feb: Contract 'conflicts' cause of Marussia test snub - Razia 25 Feb: Lotus to fight Red Bull for title - Gutierrez 25 Feb: Marussia 'ahead of Caterham' - Chilton 25 Feb: Sutil will not stay in F1 as test driver The latest F1 News - Mobile Version

F1 News  F1 Schedule  F1 Line-up  Constructors' Championship  Drivers' Championship  F1 Tickets  Live F1 Coverage

Full Version: Formula 1 News  Formula 1 Schedule  Formula 1 Line-up  Constructors' Championship  Drivers' Championship  Live F1 Coverage  10 'n' Pole  F1 Regulations  The Forums  Motorsport Shop  F1 Merchandise  F1 Tickets  F1 Diecast  F1 Videos  F1 Games