Ferrari, which has declared that it will not contest the 2010 Formula One World Championship, has openly ridiculed some of the names being suggested as possible entrants, thereby replacing the legendary team, and Red Bull and Toyota, on the grid next season.

"They couldn't believe their eyes, the men at women working at Ferrari, when they read the papers this morning and found the names of the teams, declaring that they have the intention to race in Formula 1 next year," mocks the Maranello outfit.

"Looking at the list, which was leaked yesterday in Paris, you can't find a very famous name," the Italian team continues. "One of those one has to spend 400 Euros per person for a place on the grandstand at a GP (plus the expenses for the journey and the stay..). Wirth Research, Lola, USF1, Epsilon Euskadi, RML, Formtech, Campos, iSport: these are the names of the teams, which should compete in the two-tier Formula 1 wanted by Mosley.

"Can a World Championship with teams like them - with due respect - have the same value as today's Formula 1, where Ferrari, the big car manufacturers and teams, who created the history of this sport, compete? Wouldn't it be more appropriate to call it Formula GP3?"

That is a question that many F1 fans may currently be asking.