As a result, the team will part ways with Carlos Sainz, who has achieved four victories during his tenure at Ferrari, including a spectacular victory in Australia earlier this year.
Despite his pedigree in F1, Sainz failed to sign with a 'top four' team on the grid, and will instead move to Williams in 2025, hoping that they can produce a race-winning car within the next few years.
"Even Enzo Ferrari said that drivers slow down when they have children.
"I spoke to Sainz. He was interesting for us, but only for four years. It makes no sense to take a driver like Carlos for one or two years. Either he believes in our programme or he doesn’t.
"I don’t need a driver who costs me a lot of money and is looking to go to another team when the opportunity arises."