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

During an interview with SkySport Italia, Binotto admitted th🏅at both IndyCar and sportscar racing are being considered at Maranello as the team looks to find other series ꦜthat matches Ferrari’s needs.

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

An entry into US open-wheel racing in time for 202ꦉ2 would coincide with IndyCar’s introduction of hybrid engines.

“Ferrari feels a lot of social responsibility towards its ൲employees 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 starte✤d to evaluate alternative programs, 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 observe t▨he world of endurance racing and other series. We will try to make th𒁏e best choice.

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

“The limit of $175 million that h♚ad been defined and voted wi♏ll be lowered to $145m.

“At Ferrari we were structuring ourselves based on the budget approved last year, and the further reduction represents an important challenge that will inevitab𝕴ly 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 Motorsports - officially titled Arrow McLaren Raci✃ng SP - for the upcoming 2020 ꦿseason.