Ferrari has threatened to quit Formula 1 if the sport lowers the agreed upon budget cap to less than $150 million. With Formula 1 in the midst of a financial crisis, one that could see two or three teams go under, the sport's bosses are holding regular talks to find ways to cut costs. All the teams have agreed to run this year's chassis next season while also lowering the 2021 budget cap from $175m to $150m. However, the FIA and a few team bosses want that dropped even further. They have proposed a $145m for 2021, falling to $130m the following season. Ferrari has said no. 'The $145m level is already a new and demanding request compared to what was set out last June,' team boss Binotto...
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