Ferrari extend Vasseur's contract as F1 team boss
Vasseur, 57, has been in the post since the beginning of 2023 and was key to persuading seven times world champion Lewis Hamilton to join from Mercedes this season.
His tenure was questioned earlier in the year with reports suggesting Ferrari had sounded out Christian Horner, the Briton who was sacked by Red Bull this month and has yet to comment on what he will do next.
"Today we want to recognize what has been built and commit to what still needs to be achieved," said Ferrari CEO Benedetto Vigna in a statement released ahead of this weekend's Hungarian Grand Prix.
"It reflects our trust in Fred's leadership, a trust rooted in shared ambition, mutual expectations and clear responsibility."
Ferrari are second in the championship after 13 of the season's 24 races but a massive 268 points adrift of dominant champions McLaren.
Hamilton, the most successful driver in the history of the sport with 105 wins, has yet to stand on the podium for his new employers although he did win a Saturday sprint in Shanghai in March.
Ferrari highlighted Vasseur's ability to lead under pressure, as well as bring change to the team.
"I'm grateful for the trust Ferrari continues to place in me. This renewal is not just a confirmation - it's a challenge to keep progressing, to stay focused, and to deliver," said Vasseur in the statement.
"Over the past 30 months, we've laid strong foundations, and now we must build on them with consistency and determination. We know what's expected, and we're all fully committed to meeting those expectations and taking the next step forward together."
Hamilton made a passionate defence of Vasseur in Canada last month amid speculation the Ferrari team boss could be replaced.
"I love working with Fred. Fred's the main reason I'm in this team and I got the opportunity to be here, which I'm forever grateful for. And we're in this together," said the 40-year-old.
"Things aren't perfect but for me, I'm here to work with the team but also with Fred. I want Fred here. I do believe Fred is the person to take us to the top."
Ferrari last won a championship in 2008, the year Hamilton took his first drivers' crown with McLaren. The last driver to be champion with Ferrari was Kimi Raikkonen in 2007.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
4 hours ago
- CNA
Kremlin confirms Trump-Putin summit plans as Zelenskiy pushes for European role
MOSCOW: Russian President Vladimir Putin and US President Donald Trump will meet 'in the coming days,' the Kremlin said on Thursday (August 7), as Trump seeks a breakthrough to end the war in Ukraine after voicing frustration with Moscow and threatening fresh sanctions. The announcement came a day after Trump's envoy, Steve Witkoff, held three hours of talks with Putin in Moscow. Trump has said that unless Putin agrees to peace by Friday (August 8), the US will impose new sanctions on Russia and countries that continue buying its exports. Trump on Wednesday raised tariffs on Indian goods over Russian oil purchases and hinted that similar actions may follow for China. Kremlin aide Yuri Ushakov told reporters the two sides had agreed to hold a summit 'in the coming days.' Putin, during a meeting with the president of the United Arab Emirates, said the UAE would be a 'suitable' venue but did not confirm it as the host. The last US-Russia summit took place in Geneva in June 2021, when Putin met then-President Joe Biden. ZELENSKIY INSISTS ON EUROPEAN INVOLVEMENT Ukrainian President Volodymyr Zelenskiy said on Thursday that Europe must be part of any peace talks, noting that 'the war is happening in Europe, and Ukraine is an integral part of Europe.' Zelenskiy held separate talks with the leaders of France and Germany and European Commission President Ursula von der Leyen, adding: 'Europe must be a participant in the relevant processes.' 'The war must end with a dignified peace,' Zelenskiy said on X, arguing that the outcome of any deal would shape the continent's security landscape for decades. While Kyiv and its allies have long feared that Trump might pressure Ukraine into accepting unfavourable terms, Zelenskiy said Ukraine 'is not afraid of meetings and expects the same brave approach from the Russian side.' He confirmed that various bilateral and trilateral meeting formats had been discussed with Trump. MARKET REACTION, SCEPTICISM OVER MOTIVES Russia's MOEX stock index rose 5 per cent to a two-month high on news of the summit, and the rouble strengthened against both the US dollar and Chinese yuan. 'Russian stocks are soaring. Investors hope the (Trump-Putin) meeting will be a step towards normalizing the geopolitical situation,' Alfa Bank analysts said. A White House official also said a meeting could happen as early as next week. The New York Times reported Trump told European leaders on Wednesday that he planned to meet Putin and then follow up with a trilateral summit including Zelenskiy. A source familiar with the call said Witkoff participated in the conversation and briefed leaders on what Putin might be willing to agree to. National security advisers were expected to hold an online meeting later Thursday to discuss the proposal. MUTUAL SUSPICIONS REMAIN Putin said on Thursday he was open to meeting Zelenskiy in principle, but added that conditions for such a meeting were 'far from being met.' Ushakov said the Russian side had left Witkoff's proposal for a trilateral meeting 'completely without comment.' Mykola Bielieskov, a senior analyst in Kyiv, warned that the summit could allow Russia to project an image of legitimacy without making concessions. 'Offering Putin a summit is like giving him a reward without getting anything in return,' he said. 'The Kremlin will continue to drag out time, using the very fact of the meetings as proof of openness to negotiations without actually changing its stance.'
CNA
5 hours ago
- CNA
Villarreal sign former Arsenal midfielder Partey
Villarreal have signed Ghana international Thomas Partey on a free transfer following the expiry of his contract with Arsenal, the LaLiga club said on Thursday. The 32-year-old defensive midfielder has agreed a season-long deal and will join the Villarreal squad in training on Friday. Partey was charged last month with raping two women while he was a player for the Premier League club. He is accused of five counts of rape relating to two women, plus a charge of sexual assault against a third woman, between April 2021 and June 2022. "The club is aware that the player is currently involved in legal proceedings in England. The player vehemently defends his innocence and denies all charges against him," Villarreal said in a statement. "The club respects his presumption of innocence as a fundamental principle and is awaiting the verdict of the courts, which will be responsible for clarifying the facts of the case. In accordance with British law regarding ongoing proceedings, the club will not comment further on this matter." Partey made 167 appearances for Arsenal, scoring nine goals after joining from Atletico Madrid in 2020. Villarreal, who beat Arsenal 3-2 in a pre-season friendly on Wednesday, begin their LaLiga campaign at home to promoted Real Oviedo on August 16.
Business Times
6 hours ago
- Business Times
Ireit Global DPU drops to 0.71 euro cent for H1 due to Berlin vacancy
[SINGAPORE] Ireit Global posted a 26 per cent fall year on year in distribution per unit (DPU) to 0.71 euro cent for the half-year of FY2025 ended June because of the full vacancy at the Berlin campus. Revenue decreased by 27.5 per cent to 26.6 million euros (S$39.8 million) while net property income slid 33.3 per cent to 18 million euros, the regulatory filing by the manager of the Europe-focused real estate investment trust (Reit) on Thursday (Aug 7) showed. The drop was mainly due to the full vacancy at Berlin Campus from Jan 1, 2025, and the absence of other income from the dilapidation cost paid by the main tenant at the property in the corresponding period of FY2024. Consequently, income to be distributed to unitholders at 9.5 million euros was 26 per cent lower, and this was after the retention of 10 per cent of income for working capital and capital expenditure. However, earnings per unit was higher at 0.05 euro cent, compared with 0.02 euro cent for the year-ago period, as total return attributable to unitholders was impacted by net change in fair values of financial derivatives and investment properties. Net asset value per unit was unchanged at 0.39 euro cent as at end June, against end-December 2024. Ireit Global Group, the Reit manager, said it has initiated discussions with the incumbent banks regarding the refinancing of the German and Spanish properties, and expects to finalise the agreements by the third quarter of 2025, thereby pushing the next earliest debt maturity to July 2027. Ireit Global units were unchanged at S$0.295 on Thursday, before the Reit manager published the financial results.
