Ferrari team director Mattia Binotto confirmed that the team is evaluating future developments in IndyCar racing after agreeing to a 145 million dollar budget cap in a bid to save jobs.

Binotto had previously warned that the team might consider racing in series other than Formula One if the budget ceiling for next year’s introduction fell below $145 million.

As reported last week, the teams reached an agreement to lower the cap to $145 million next year and reduce it further in subsequent seasons.

Speaking to Sky Sport Italia, Binotto said the team would “review its organisation” following the reduction of the cap, which originally stood at $175 million plus exceptions.

Binotto said a move to IndyCar would be in addition to their F1 programme and would allow them to reduce job losses due to the cap.

“As Ferrari, we feel a strong social responsibility towards our employees and are concerned about their future,” said Binotto.

“That is why we are also looking for alternatives to Formula One, such as IndyCar for example, and we will try to make the best choice. In addition to Formula One, which is part of our history. ”

Ferrari could return to the Indianapolis 500. Ferrari is the only team to have competed in every F1 season, but not every race, since the start of the world championship 70 years ago.

IndyCar is a much more technologically restrictive category than Formula One. Teams use unique specification chassis supplied by Dallara.

Two competing engine manufacturers currently compete in the championship – Honda and Chevrolet. They use 2.2-litre twin-turbo V6 engines without hybrid components. Hybrid systems are expected to be introduced in 2022.

In the mid-1980s, the founder of the Ferrari team, Enzo Ferrari, threatened to enter IndyCar races – then run by CART – in a dispute over the future rules of Formula One. The team built a regulation-compliant car, the 637, but it never raced.