Ferrari's German driver Sebastian Vettel (R) and Ferrari's Finnish driver Kimi Raikkonen race during the Abu Dhabi Formula One Grand Prix at the Yas Marina circuit on November 29, 2015. AFP PHOTO / KARIM SAHIB / AFP / ANDREJ ISAKOVIC (Photo credit should read ANDREJ ISAKOVIC/AFP/Getty Images)
Ferrari's German driver Sebastian Vettel (R) and Ferrari's Finnish driver Kimi Raikkonen race during the Abu Dhabi Formula One Grand Prix at the Yas Marina circuit on November 29, 2015. ANDREJ ISAKOVIC/AFP/Getty Images

Ferrari have warned they could leave Formula 1 in protest against the new rules expected to be proposed by the sport's supremo, Bernie Ecclestone, and FIA president Jean Todt.

After Ferrari vetoed proposals to place a cost-cap on customer engines, the World Motor Sport Council have appointed Ecclestone and Todt ‘to make recommendations and decisions regarding a number of pressing issues in Formula 1 such as governance, Power Units and cost reduction' by the end of January.

But with Ferrari adamantly opposed to the introduction of budget engines, the battle lines appear to have been drawn for an epic power struggle to determine F1's future direction — with the Scuderia, the sport's most famous team, warning they are prepared to quit F1 if their concerns aren't mollified.

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