Scuderia Ferrari is the oldest and the most successful Formula 1 team in history. For the tifosi, the symbol of the prancing horse is almost holy and the brand itself is one of the most recognizable in the world. With 16 constructor championships and 15 driver championships, this legendary team has been a part of motorsport history featuring some of the most iconic drivers such as Alberto Ascari, Juan Manuel Fangio, Niki Lauda and Michael Schumacher to name a few. However, the fabled Formula 1 team has been unable to replicate the results of old for over a decade and the 2020 season saw Ferrari experience their worst F1 World Championship in 40 years. The question on everyone’s lips is what has gone so wrong for this iconic team? How long will it take to get back to winning ways? Let’s trace back to 2019 when Ferrari’s blistering pace was described as “jet mode” by none other than Lewis Hamilton. The Fédération Internationale de l’Automobile (FIA) conducted checks and found nothing wrong in Ferrari’s engine, but a matter related to fuel flow brought about by Red Bull led to a rules clarification before the United States Grand Prix. It all went downhill from there, leading to a dramatic decrease in pace just hours later and Ferrari has been unable to recover from it’s downward spiral. What followed was a secret deal by Ferrari and the FIA that raised further questions about the legality of their actions. It became immediately evident that the lack of performance was down to the power unit. Since then, Ferrari have claimed to have made improvements to the 065/6 power unit for the 2021 season, and if recent results were to be taken under consideration, Carlos Sainz Jr. set the third fastest time in the pre-season practice ahead of the Bahrain GP. It’s important to take into account that while Ferrari may have improved, so have their competitors and the prancing horse will be playing catch up in the 2021 season. Just like any other sport, Formula 1 is cyclical and radical improvements do not happen overnight. Team principal of Ferrari Mattia Binotto has already downplayed expectations, claiming that this project could take years. With the introduction of budget caps to create a level playing field starting with $145 million for 2021, $140 million for 2022 and $135 million from 2023 to 2025, it does seem like an uphill battle for a team like Ferrari that reportedly spends $400 million every year. Binotto had also claimed that the team’s struggles were not just due to the power unit but also aerodynamics and with the change regulations from last year to this, it’s unlikely that Ferrari would be able to make drastic improvements. The 2021 season will see two young drivers in Charles Leclerc (23) and Carlos Sainz Jr. (26) take the reigns of the prancing horse, their youngest driver lineup since 1968 when Ferrari featured Chris Amon and Jacky Ickx. It’s evident that Ferrari’s strategy is long term gain over short term success, which is why the upcoming 2021 Formula 1 season is a transitional one with the aim to get the glory days back in the years to come.