Ferrari has announced that its board of directors is to meet in Maranello on Tuesday, where its future in Formula One will be one of the topics up for discussion.

As well as going through the companies first quarter performance and forecast for the remainder of 2009, the board will also analyse the current situation in F1 as well as its future involvement in the sport.

Ferrari president Luca di Montezemelo - who also heads up the Formula One Teams Association - has been one of a number of figures in the paddock to speak out about plans for the sport to bring in a budget cap for the 2010 campaign, arguing that Ferrari's continued participation in Formula One shouldn't be taken for granted.

That led to FIA president Max Mosley stating that the sport would survive without the Scuderia, although commercial rights holder Bernie Ecclestone and a number of drivers have argued the other way - with Force India's Giancarlo Fisichella stating that 'without Ferrari, I don't think it would be Formula One anymore'.

Toyota and Red Bull have also expressed concern over the proposed budget cap plans, which would see teams given the option of operating under a cap of ?40 million but with greater technical freedom. That has led to concern that Formula One would effectively become a two-tier championship, with Red Bull chief Dietrich Mateschitz stating his belief that as many as eight teams could walk away if the plans are brought into play.

FOTA has now called for urgent talks with Mosley over the matter, with the teams hopeful of sitting down with the FIA chief before or during the Monaco Grand Prix weekend.

Mosley had been due to visit Catalunya over the weekend for the Spanish Grand Prix, before his son Alexander was found dead in his London home last week.

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