Ferrari has dismissed media claims that it could quit F1 for Endurance racing, claiming the reports are "pure speculation".

The reports were based on an interview with the Wall Street Journal in which Ferrari president Luca di Montezemolo complained about the 2014 rules and the direction in which the sport is heading.

He concluded the interview by saying: "We cannot do sports-car racing and Formula One. It's not possible."

In a statement issued on the Ferrari website in response to the reports, the teams says:

"Some elements of the media have suggested Ferrari would quit Formula 1 to concentrate on the Le Mans 24 Hours and Endurance racing. This is a bit of a stretch based on President Luca di Montezemolo reiterating that Formula 1 needs to evolve and renew itself, while also admitting that there is a unique attraction to the 24 Hour race.

"To say that after 2020, Ferrari could quit Formula 1 to concentrate on Le Mans and the Endurance championship takes his words to extremes. Plus of course, there’s nothing to stop Ferrari upping the ante and competing in both disciplines. So it’s just pure speculation."

Pure speculation or not, Ferrari has been making such threats throughout its history - indeed, it missed the first ever round of the Formula One World Championship in a dispute over the 'start money' - the most recent examples being in response to the new rules and prior to that it was usually about money.

In 2005, team owner Fiat, at that time a leading light in GPWC Holdings which was seeking to establish a 'breakaway championship' having failed to secure a bigger slice of the F1 revenues, agreed a $100m deal with Bernie Ecclestone which effectively pulled the rug from under the movement.

In 2009 it was revealed that Ferrari also had an FIA sanctioned veto on the technical regulations.

Chris Balfe