Ferrari have been beaten by the FIA in their attempt to stop them from imposing controversial new rules that place a cap on the budgets of the teams.
They appealed in a French court in Paris against the new rule that will introduce an optional £40million budget cap and technical freedom to those who stay within it, but it was dismissed yesterday. Ferrari had said that if the rule wasn't changed then they would not compete next year.
'No competitor should place their own interests above those of the sport in which they compete,' said FIA president Max Mosley. 'The FIA, the teams and our commercial partners will now continue to work together to ensure the well being of the Formula 1 in 2010 and beyond.'