F1 president Stefano Domenicali extends contract through to 2029 season
Stefano Domenicali has extended his contract as president and CEO of Formula One.
The 59-year-old, who began in the role in 2021, will remain at the helm until the end of 2029.
'I am honoured to continue to lead this incredible sport, which I love and has been part of my life since my childhood and grateful to the Liberty Media team for their trust,' Domenicali said.
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'Together, with all the relevant F1 stakeholders, we will continue to serve the best interest of our fans, as they are the heartbeat of everything we do. The passion, the energy and the adrenaline are the fuel that powers me every day to give my absolute best to Formula One.'
Domenicali began his career in motorsport with Ferrari in 1991, holding various positions and becoming team principal in 2008. He led Ferrari to their most recent constructors' championship that year, though Felipe Massa was pipped to the drivers' title by Lewis Hamilton, then of McLaren.
The Italian represented Ferrari on the FIA World Motor Sport Council from 2009 until 2014, when he resigned as team principal, ending his 23-year association with the Italian constructor. In total, he won 14 titles during his time with Ferrari.
Domenicali was hired as vice president of New Business Initiatives at Audi in November 2014 before joining Lamborghini as CEO in 2016. He took charge of F1 in 2021, replacing Chase Carey.
Since taking charge of F1 in 2021, Domenicali has been able to put his decades of experience in the sport to good use. While his predecessor, Chase Carey, laid good foundations in the first few years of Liberty's ownership, to have a true 'F1 man' at the helm in Domenicali has only been good for the sport.
F1's positive growth has only continued in recent years under Domenicali, whose tenure has included the addition of new races in Miami and Las Vegas as part of the push to expand in the Untied States. Teams have also seen their prize fund payouts rise in the time as the sport's revenues continued to go up and up.
It makes the decision by Liberty to extend Domenicali's contract a no-brainer, ensuring stability ahead of what will be an important year. Amid the celebrations for F1's 75th anniversary, stakeholders are also discussing a fresh set of commercial agreements between F1, the FIA and all 10 teams, which also include terms surrounding how F1 is governed.
While new car design and power unit rules are set for introduction in 2026, Domenicali's new contract also ensures he will be at the table to lay out what the next era of F1 may look like entering the 2030s.
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