The only son and heir of Enzo Ferrari, 80-year-old Piero Ferrari, has observed how the budget cap has hampered Scuderia in recent years. The legendary team has not won a world title since 2008 and is also having to concede to the dominant McLaren in the current season. According to Ferrari, the financial clout to bring about a turnaround in Maranello is lacking, despite the brand still being highly regarded.
When the current Formula 1 season comes to an end, it will likely be 18 years since Ferrari last clinched a drivers’ world title, and 17 years since the last constructors’ title. During this period, Mercedes, Red Bull, and now McLaren have successively taken the reins, while Ferrari can only dream of past glory. Even with the arrival of seven-time world champion Lewis Hamilton, who was brought to Scuderia with much fanfare, Ferrari is still waiting for the first victory of the season.
Budget Cap
Piero Ferrari points to the strict budget rules that are in place today. “I think it’s a matter of cycles,” he told La Gazzetta dello Sport. “Formula 1 has always worked this way, and once you get into a negative cycle, you never know when you’re really at rock bottom. Nowadays, it’s very complicated because you can’t spend extra money to fill gaps within the constraints of the budget cap. You have to string together a series of winning factors to change course.”
Despite his critical note, Piero Ferrari remains optimistic. “These are cycles, and as such are doomed to end and start again,” he said defiantly. The team spirit of Ferrari – the team his father founded in the middle of the last century – is, according to him, still very strong. When asked if the current Scuderia still has the same drive as before, Piero Ferrari responded emphatically: “I think so. The spirit is the same, just look at the employees; there is a strong sense of connection. In Maranello, you still see them wearing their uniform after work hours, because being part of Ferrari is of great value to them.”
