Luca di Montezemolo has said that Ferrari's future in F1 depends solely on the sport sorting out all its gremlins, only then will the Maranello-based squad stick with the sport. This comes after Ferrari nearly withdrew from Formula 1, with the FOTA threatening a breakaway series. As of now Ferrari is bound to Formula 1 till 2012, having signed the Concorde Agreement. Montezemolo has declared that only massive progress, by the Formula One Teams Association, the teams, and the sport's commercial heads, will ensure that Ferrari's continuation in the sport.
Di Montezemolo believes that some of the cost-cutting regulations, like the current testing ban, have gone too far and has said that it's a far cry from the good old days when you could test every day. He also believes certain other aspects of the sport ought to be reconsidered, such as the duration of races and price of tickets. But Luca's also said he's happy that Jean Todt, a man who knows F1, is at the helm of the sport.