Earlier, Liberty Media announced several changes to the engine regulations aimed at cost reduction.
Chairman Marchionne agreed with the cost-cutting reasons, but stated that there were other strategic issues that could force Ferrari to think over racing elsewhere.
"It (Formula One) has been part of our DNA since the day we were born, but if we change the sandbox to the point where it becomes an unrecognizable sandbox, I don't want to play anymore," Marchionne was quoted, as saying by the Independent.
Marchionne said, "Like a million bucks because I'll be working on an alternative strategy to try and replace it. More rational one, too."
Ferrari are the only team to have competed in the Formula One World Championship continuously since its inception in 1950.
Jose Froilan Gonzalez gave the team its first F1 victory at the 1951 British Grand Prix.