Ferrari has confirmed they would block any move from Mercedes boss Toto Wolff to replace Chase Carey as Formula 1 CEO.

The current Liberty Media executive is expected to step down from his position after next year and rumours had suggested the Austrian was a potential candidate to succeed him.

Wolff himself had downplayed the suggestions insisting he wasn't interested, but now any aspirations he had have been firmly ended.

“Anybody who has been an active and important player in a certain team within the last few years and then takes on the responsibility at F1 would create a conflict of interest,” Ferrari CEO Louis Camilleri declared at their recent Christmas lunch with the media at Maranello.

“It would not be a good thing [that Wolff] should ultimately run F1. Our position is if Mattia Binotto was the candidate to replace Chase, the rest of the paddock would not be too happy.

“Our veto is the last resort tool. Should we be confronted with that possibility we would explain our position quite clearly to the folks at Liberty.”

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Wolff's future is almost as big of a story as those of many drivers after 2020, with his contract at Mercedes expiring.

Recently, former F1 team owner Eddie Jordan raised the prospect of him joining Ferrari with Lewis Hamilton in 2021 but speaking recently to Austrian broadcaster ORF, Toto hinted at staying at least for now.

"You have to think back," the 47-year-old said of his approach to the topic. "As Niki Lauda and I approached this adventure in 2013, we not only did it as employees, we also participated in the racing team.

"So the question is not just whether you take a job elsewhere, but whether I generally continue in Formula 1.

"At the moment I enjoy it, I think that's the most important thing," he stated. "It is certainly less fun than when Niki was there but this work continues to motivate me.

"It is nice to have all these connections in Formula 1 and to be able to enjoy the trust of the board.

"At the same time, we have an incredibly good team in England. As long as I believe that I can contribute something, I won't go from good to mediocre."