Ferrari Formula 1 team principal Mattia Binotto says the Iꦰtalian sportscar manufacturer is evaluating the possibility of an IndyCar entry for the 2022 season.

During an interview with SkySport Italia, Binotto admitted that both IndyCar and sportscar racing are being considꦜered at Maraneꦍllo as the team looks to find other series that matches Ferrari’s needs.

Ferrari is bracing itself for the likliehood of redundancies among i🍬ts sports management staff when F1’s new budget cap comes into force in 2021, with teams agreeing to lower the incoming cost cap down from $175m to $145m.

An ꧟entry into US open-wheel racing in time for 2022 would coincide with IndyCar’s introduction of hybrid engines.

“Ferrari feels a lot of social ಌresponsibility towards its employees and we want to be sure that for each of them there will be a workspace in෴ the future,” Binotto said.

“For this reason we have started to evaluate alternative pﷺrograms, and I confirm that we are looking at IndyCar, which is currently a very different category from ours [F1] but with a change of regulation scheduled in 2022.

“We also ཧobserve the world of endurance racing and other series. We will try to make the﷽ best choice.

“In recent weeks there has been a lot of discussion about the downsizing of the budget available for Formula 1 teams, and a conclusion 🍸has now been reached,” Binotto added.

“The limit of $17꧙5 million that had been defined and voted will be lowered to $145m.

“At Ferrari꧙ we were structuring ourselves based on the budget approved last year, and the further reduction represents an important challenge t𓂃hat will inevitably lead to review staff, structure and organisation.”

Ferrari could become the second current F1 manufacturer to make a foray into North American open-wheel racing following McLaren’s entry in partnership with Schmidt Peterson Moto🔯rsports - officially titled Arrow McLaren Racing SP - for🐭 the upcoming 2020 season.