Stefano Domenicali has elaborated on Ferrari's astonishing threat last week to walk away from Formula 1 should the FIA press ahead with its controversial standardised engine initiative in the top flight, explaining that it all relates to preserving the 'fundamentals' of the sport.

The Scuderia sent shockwaves through the paddock when it released its statement suggesting it may be forced to 're-evaluate...the viability of continuing its presence in the sport' [see separate story - click here], particularly given FIA President Max Mosley's admission last year that the Maranello-based outfit - the only mainstay in F1 since the official inception of the world championship all the way back in 1950 - is its most important team.

The proposal for grand prix teams to receive engines from just a single supplier as of 2010 in the interests of cost-cutting, however, was met with unanimous outrage by the major car manufacturers involved, with fears such a move would destroy their very raison d'?tre in F1 and remove for them a large part of the sport's spirit.

"At the end of the day we want to keep the fundamentals of Formula 1 in this new context," urged Ferrari team principal Domenicali, "and this is one of the objectives that all the teams want to achieve together.

"The teams have a very clear objective, which is to act in a unified manner and measured way for the benefit of Formula 1 - and we will do that. We're very, very aware of everybody's wishes, and we're trying to address those wishes and work with everybody that's involved in the process.

"The point that we want to reflect is that we are here in order to find a solution for the benefit of this world. We will really do whatever is needed to try to find, all together, the right solution for Formula 1.

"We need to take everything as a package. We are speaking of a sport, of a business, of a sport related to technology, a sport related to the show - and within all this framework we need to take the right action at this moment, considering what is going on around us in terms of the economic situation.

"There is no contentiousness in what we're trying to achieve. We're trying to achieve meaningful cost-cutting, and trying to do it in a way that still holds the values of Formula 1 and still presents to all the teams the right level of challenge that Formula 1 should represent."

Alongside Ferrari, BMW, Honda and Toyota's public anger at the standardised engine idea, Mercedes-Benz Motorsport Vice-President Norbert Haug has also voiced his distaste for the suggestion, telling German magazine Auto Motor und Sport that he does not 'believe a single engine is feasible for the manufacturers' and claiming that 'in recent years, technical excellence has been limited' in the uppermost echelon.

Whilst the 55-year-old added that a compromise may be the only means by which to come to a resolution over the much-debated issue, BMW Motorsport Director Dr Mario Theissen has been less pliant, firmly contending in an interview with German news agency DPA: "We don't expect the standard engine to come after the talks held so far, and our Formula 1 concept is based on this."