Ferrari chairman John Elkann does not expect Ferrari to be competitive until a regulation overhaul is introduced for the 2022 Formula One season. And because the sport has instituted a mandatory chassis freeze for the 2021 season it's extremely unlikely that Fezza will be anywhere near the front next year either.
Despite the Italian outfit's setback, its leadership will remain unchanged going forward although a few changes to the Scuderia's technical department have been implemented, like the creation of a new Performance Development department.
Finally, Elkann addresses the fans personally.
We haven't won a manufacturer's title since 2008 or a drivers' title since 2007. There were winning cycles from Red Bull for its aerodynamic capabilities and from Mercedes for its expertise in hybrid engine technology.
Elkann said the 2020 auto had structural weaknesses that had been around for some time in aerodynamics and vehicle dynamics, and had lost engine power. We've likewise lost in regards to engine power.
'The reality is that our vehicle is not competitive. It has been seen on the track and will be seen again. "This year we are not competitive because of errors in the project", Elkann says.
"Binotto has the characteristics and skills to start a new winning cycle".
'He was at Ferrari with (former team boss Jean) Todt and Schumi, he knows how to win and from next year he will be working with two young drivers as ambitious as us.
"In the past 10 years, we have had champions such as (Fernando) Alonso and Vettel, who have been world champions".
"But it is undoubtedly more hard to rebuild a cycle and ask for patience those who have already won compared to those who have the future ahead of them".
"Leclerc and Sainz will make their home in Maranello, they will be close to our engineers, and the new machine will be born with them". The new auto will also be born from your contribution, "he assured". In this context, the president of Ferrari expressed his "pain" and expressed the desire to open a "new cycle from 2022, when the rules will change".
Although Elkann confesses the hold-up to the brand-new guidelines "penalises Ferrari a lot" offered their present circumstance, they accepted both the deferment and a lowered budget plan cap as they invite the "challenge" of a more competitive F1. Took his time, since he arrived in 1993 until that took Ferrari to victory.
"They're suffering as much as us, but continue to get behind us and that's why it's important for us to be honest with them". There's a long road ahead of us. When Todt started that historic cycle [of five consecutive titles] in 2000, we came from a fast that lasted for more than 20 years, from 1979.
"Ferrari aren't competitive at the moment. But the most important thing is to work on and off the track as a cohesive team to build the Ferrari we want, step by step", concludes the Ferrari top man.