The meeting at Heathrow didn't came up with an amicable solution

The Ferrari team, along with Renault, Toyota and Red Bull are in opposition with the Formula One proposed £40million budget cap in 2010, and the Italian team has brought their case to court.

Aside from also filing an injunction to block the budget cap, their case according to Ferrari is that FIA is breaking a veto agreement which it has in place to oppose any changes to F1’s technical regulations.

President Max Mosley is of course defiant and scoffed at the court date, and was quoted, “We had an interesting meeting and exchange of views but nothing concrete has come out of it. I think there will be further developments. The teams have gone off to see if they can come up with something better than the cost cap and we will be happy to listen to what they have to say. But what we have said to them is that it’s really not possible, if you are going to dramatically reduce the costs, to do anything better than a cost cut. We think that when they think about it when they consider it properly they will come back and agree. We will say first of all it is no longer in place and if they wanted to do a veto. They were in the FIA meeting on March 17 and they should have done it there if they didn’t agree. Instead, they just sat there. Anyway, it will be our contention that they walked away from that agreement some time ago.”

For the clueless, the FIA and the Formula 1 teams meeting held yesterday at Heathrow airport failed to reach an agreement despite a day of talks. Looks like a court date is next.

What do you guys think. Next season without Ferrari … unspeakable or perhaps its for the best.