Ferrari CEO Louis Camilleri has conceded the Italian team may finally be open to a budget cap in Formula 1 in the future.

In a conference call with investors, the topic of Ferrari's future in the sport was raised, after quit threats were issued by predecessor Sergio Marchionne over Liberty Media's vision for 2021 and beyond.

Since his sad death earlier this year the tone has eased a little, however, it appears there is still work to be done before an agreement is reached.

“I think there’s been progress on the technical specifications, but in terms of the budget cap and economics, there really hasn’t been any progress,” Camilleri revealed.

“Obviously the economics are also linked to the budget cap. I think that a budget cap eventually makes sense but the devil is in the detail and I think it’ll eventually be in everyone’s interests but we’re not there yet.”

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As for the Scuderia's fortunes on the track, the CEO praised the progress made, with Ferrari having the fastest car at times in 2018, but does still rue the lack of championship success.

“Clearly winning for us is a priority, it’s part of our heritage,” Camilleri declared. “We were very close and the Constructors’ is still open, mathematically anyway, two races left.

“Winning for Ferrari is very important. What do we need to win…a great car and two great drivers. This year was somewhat unfortunate, we came very, very close and hopefully next year we can get there.

"Not much to add other than it’s very important and we’re doing everything we can to win.

“What I would say is in 2018 just based on the numbers it was probably our best season since 2008, we’re making progress, we’re not quite where we want to be and we’ll see where we are next year.”