FEBRUARY 1, 2019
Ferrari CEO announces bigger F1 budget for 2019
Ferrari will boost its 2019 budget in a bid to finally beat Mercedes to a world championship this decade.
The fabled Italian team challenged hard in 2018, but team and driver mistakes ultimately meant Mercedes won its fifth consecutive drivers' and constructors' titles.
During the course of 2018, Ferrari president Sergio Marchionne died, and CEO Louis Camilleri took over.
Camilleri said this week: "In 2018 we achieved our best result since we last won the championship, and for 2019 the goal is to win.
"I repeat that in 2019 our goal is the world championship title, so there will be an increase in investment to reach that goal," he added.
Italian media estimates put Ferrari's 2018 budget at about EUR 430 million, some EUR 20m shy of Mercedes.