Ecclestone defends contracts between the FOM and Ferrari

Bernie Ecclestone has taken out his claws in defense of his contracts with Ferrari and their respective obligations to participate in Formula One until 2012. Ecclestone had remained relatively neutral and quite, but only until recently this week did he speak out in defense of the FIA and his FOM group.

The Formula One supremo spoke to 'The Times', "We would always respect our contracts. All the teams that have signed contracts with us would expect us to respect them and we would expect the same from Ferrari. They are saying they are going to walk, we are saying we hope they respect their contract."

Furthermore, Ferrari may lose out on years worth of television rights money should the walk away from Formula One at the end of this season.