As the oldest team in Formula One, Scuderia Ferrari enjoys certain privileges, like a veto power. In other words, they have the power to disapprove of certain regulations pitched in Formula One. However, McLaren are not particularly thrilled about this power that the team can exercise liberally.

As a result, they urged Liberty Media to axe Ferrari’s veto for the 2021 Concorde Agreement. For the uninitiated, the Concorde Agreement document is a set of regulations that all Formula 1 must abide by.

For a long time, under the agreement, Ferrari have the right to veto any decision that they do not agree with.

However, it is worth noting that Ferrari have rarely used it, though McLaren are not taking any chances.

“We have a clear opinion,” said the McLaren boss. “I don’t think we need any other team to represent us in any forums.”

“I think it’s simply outdated and we hope that this doesn’t exist anymore from ’21 onwards.”

Meanwhile, Ferrari have identified what they feel are potential risks to Formula One’s future. First and foremost is the debate about the 2021 rules, which will likely run until October.

“We believe that standardisation may even be a risk for Formula 1 in the future,” said team boss Mattia Binotto.

The other threat is the steadily rising Formula E series, which has enticed numerous manufacturers.

Speaking to the Sunday Express business journalist Christian Sylt revealed that the team is worried about the rising popularity of the electric series.

“(Our) share of profits related to Formula 1 activities may decline if either our team’s performance worsens compared to other competing teams, or if the overall Formula 1 business suffers, including potentially as a result of increasing popularity of the Formula E championship,” he admitted in a report.