F1 boss Stefano Domenicali signs new long-term contract

F1 has announced that president and CEO Stefano Domenicali has signed a new long-term deal to remain in post until 2029. 

Domenicali took over from Chase Carey on January 1st 2021 and has been a key figure behind the explosive growth F1 has enjoyed over the past few seasons, which he will now continue to oversee in a five-year contract renewal.

Under Domenicali, F1 has introduced sprint races, as well as grands prix in locations such as Miami and Las Vegas whilst signing new contracts with existing countries. 

The Italian previously worked for Ferrari, rising to team principal and guiding the Scuderia to its last world championship success to date - the 2008 constructors' before resigning in April 2014 following a poor start to the turbo hybrid era. 

He then joined Audi before becoming chairman and CEO of Lamborghini in 2016, finally returning to F1 in 2021, having the support of senior figures including Toto Wolff and Christian Horner. 

"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," said Domenicali.

"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 1."

The president and CEO of Liberty Media, F1's owners, Derek Chang praised Domenicali's "energy and enthusiasm" for delivering results. 

"We are thrilled to renew Stefano and look forward to his leadership alongside the talented management of Formula 1 for the years ahead," he added.

"Stefano has been an excellent steward of the business, building on its successful foundation and accelerating Formula 1’s rate of growth both commercially and in fan engagement. 

"His energy and enthusiasm for the sport translate into highly effective strategy and results. 

"On behalf of Liberty, we are thankful for his partnership and incredibly optimistic about the continued success the F1 team can drive for the sport, our fans, partners and shareholders."