Domenicali gets five-year contract extension as F1 CEO

Stefano Domenicali will proceed as president and CEO of Method One Administration for an extra 5 years, the industrial rights holder for the Method 1 championship has introduced.

The ex-Ferrari F1 workforce boss has helmed FOM for the reason that begin of 2021 and has overseen a interval of robust development by way of fan curiosity within the collection and improved monetary well being for its stakeholders – together with the groups.

Domenicali is the second FOM CEO appointed since Liberty Media took over as proprietor of F1’s industrial rights in 2017, after his predecessor, Chase Carey.

Domenicali ran the Ferrari squad between 2008 and 2013, earlier than becoming a member of Audi as vice chairman of latest enterprise initiatives in 2014 – two years earlier than he turned chairman and CEO of Lamborghini.

“I’m honoured to proceed to steer this unimaginable sport, which I really like and has been a part of my life since my childhood and grateful to the Liberty Media workforce for his or her belief,” Domenicali stated in a FOM assertion.

“Collectively, with all of the related F1 stakeholders, we are going to proceed to serve one of the best curiosity of our followers, as they’re the heartbeat of every part we do.

“The eagerness, the power and the adrenaline are the gas that powers me each day to provide my best possible to Method 1.”

The FOM assertion stated Domenicali would lead the championship by means of the 2029 season, which would be the third of latest chassis and engine design rules coming into pressure subsequent yr.

There had been hypothesis that Domenicali would possibly go away F1 on the expiration of his earlier deal and switch his hand in an analogous method to MotoGP, following Liberty’s acquisition of the bike world championship final yr.

However FOM sources at all times indicated this was extensive of the mark and Domenicali’s place continued to seem robust at the same time as earlier Liberty chief Greg Maffei stepped down on the finish of 2024.

Motorsport.com understands that the brand new president and CEO of Liberty – Derek Chang – is glad with the present association and can permit Domenicali and his workforce the liberty to function as that they had earlier than.

In the identical FOM assertion, Chang stated: “On behalf of Liberty, we’re grateful for his partnership and extremely optimistic in regards to the continued success the F1 workforce can drive for the game, our followers, companions and shareholders.”

The 2025 F1 season will get underway with this weekend’s Australian GP – the primary race in what’s predicted by many observers to be an in depth and aggressive marketing campaign.