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2018-09-19 09:00

Ferrari is still a long way from agreeing to stay in Formula 1 beyond 2020.

That is the view of Ferrari's current CEO Louis Camilleri.

'Discussions are underway'

The 63-year-old took over recently following the death of Sergio Marchionne, who had warned that as Liberty Media looked to make technical, financial and governance changes for 2021, Ferrari's signature was not guaranteed.

READ: 'Sport not spectacle': Ferrari warn of F1 pullout

"Discussions are underway regarding the technical, financial and governance aspects. We believe there is a basic consensus on the principle objectives that will define the future, but the precise vision as to how to get there is still quite far away.

Progress has been made, but we are still far from an agreement that includes everything and can be signed by all the participants," he added.

"I remain optimistic that an agreement will be reached in time, but I would like to add that as Ferrari, we continue to insist that it cannot be to the detriment of F1 remaining as the top technical competition in motor sport.

"There are obvious conflicts of interest. Liberty wants to make more money and the teams do too, so we are all waiting a bit," he explained.

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