FILE PHOTO: Formula One F1 - Russian Grand Prix - Sochi Autodrom, Sochi, Russia - September 28, 2019 Ferrari team principal Mattia Binotto REUTERS/Anton Vaganov
(Reuters) - Ferrari is exploring the possibility of entering the North American IndyCar series, its Formula One team principal Mattia Binotto said on Thursday.
Binotto said Formula One's new budget cap of $145 million (118.9 million pounds) for teams from 2021 would lead to staff being made redundant and the Italian carmaker was looking at options to ensure its employees retain their jobs, albeit in a different field.
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