Former Formula 1 CEO Bernie Ecclestone has claimed Ferrari would be more than willing to follow through on their recently issued threat to leave the sport should they feel regulation change hurt their chances of winning.

Last week, current owners Liberty Media led by Chase Carey co-announced proposals for changes to the engines for 2021 along with the FIA, following a series of talks that have taken place throughout the year.

While widely welcomed by many, three of the four engine suppliers have voiced concerns with Renault and Mercedes questioning the cost element of developing two engines over the next three years but Ferrari's response went further and was more broad as President Sergio Marchionne spoke of a dislike for the broader vision of Liberty to level the playing field.

“If they can’t win, they will put forward new regulations,” Ecclestone told the Independent newspaper, echoing similar recent comments in which he suggested efforts had been made to help Ferrari be competitive. “If the regulations come out where Ferrari think it is going to be a struggle and they can’t support the money, then they will leave."

On Tuesday, there will be a meeting of the Strategy Group, the main rule-setting body in F1 consisting of most teams, the FIA, Liberty and more. In that more ideas are set to be put forward, including a first draft budget cap in 2019 according to reports.

Ferrari insisted they would go into that meeting with an open mind to discuss, but Ecclestone again doubts the fabled Italian brand will like much of what it hears.

“They don’t want budget caps and all that,” he added. “They want to spend what they can afford to spend and I’ve always said the same thing, if people can’t spend they have to go.

“If there are then only three or four teams something would have to be done but until that actually happens nobody is going to do anything. All the teams that say they can’t afford it shouldn’t put an entry in.”