Mattia Binotto believes it would be “a shame” if Ferrari had to use its veto right over the planned changes to Formula 1 for the 2021 season, but has warned the proposed aerodynamic regulations are too restrictive.

Chiefs from F1, the FIA and all 10 teams are currently engaged in talks over the planned overhaul of the sport for 2021, covering sporting, technical and commercial agreements in place.

An extended deadline of October 31 has been set for the final technical and sporting regulations to be agreed, but uncertainty remains over the final package that will be put together, with many fearing it will not achieve the goal of making F1 more competitive.

Ferrari holds a right to veto rule changes under its existing commercial agreement in F1, but team principal Binotto stressed it was not something that he wanted to invoke.

“Obviously we’ve got the veto right, and it would be a shame to use it. I don’t think that’s the intention, I don’t think that’s what we are looking for,” Binotto said.

“[What is] more important is to be very competitive, and we still have a month to address the fundamental from now until the end of October.

“If the regulations are not fully satisfactory by the end of October, again, I don’t think it will be a drama, because there’s still time to evolve, address and improve them.”

Binotto highlighted Ferrari’s key areas of concern heading toward the October 31 deadline, focusing chiefly on the technical regulations, but was hopeful of compromises being struck in time.

“There are a few things that are important to us: the degree of freedom on development; the degree of freedom, especially if we think on the aerodynamic regulations, which we believe is too prescriptive; the degree of freedom of other parts of the car where some prescriptions have been set,” he said.

“These I think are the key points on which I think there is still room of collaboration and making a different choice compared to what has been achieved so far.

“We are more focused really on trying to collaborate and address what we believe is fundamental rather than simply say that we’ve got the veto right.”