Rival F1 series is real option, says Ferrari head

LE MANS, France (Reuters) - Formula One manufacturers are ready to set up a rival series if the governing body does not meet their demands on next year's rules, Ferrari president Luca di Montezemolo said on Saturday.

"Definitely this situation will be resolved one way or the other," he told reporters at the start of the Le Mans 24-hour sportscar race.

"Either we race in an F1 with the characteristics we want to maintain or there will be an alternative."

The International Automobile Federation (FIA), locked in a standoff with teams, published a 2010 entry list on Friday which included all the current teams.

However five of them were provisional while Ferrari, who have said they will not race next year unless their conditions are met and a budget cap abandoned, were deemed to be confirmed regardless.

"We want stability, clear rules, a clear and transparent system of governance and the possibility to let teams work to cut costs like they've already shown," said Montezemolo.

"I really hope we manage to find a solution. I'm sure there are responsible people inside the FIA who understand the situation."

He later told Italy's Sky television: "If it is necessary, the big manufacturers are ready to organise an alternative world championship."

Montezemolo, guest of honour as the starter of the sportscar classic, said a return to Le Mans was a possibility for the Italian team.