Source link : https://motorsports-news.org/2025/03/15/formula-1/domenicali-will-get-five-year-contract-extension-as-f1-ceo-2/
will proceed as president and CEO of Components One Administration for an additional 5 years, the industrial rights holder for the Components 1 championship has introduced.
The ex-Ferrari F1 staff boss has helmed FOM for the reason that begin of 2021 and has overseen a interval of robust development when it comes to 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 vp of recent enterprise initiatives in 2014 – two years earlier than he turned chairman and CEO of Lamborghini.
“I’m honoured to proceed to guide this unbelievable sport, which I really like and has been a part of my life since my childhood and grateful to the Liberty Media staff for his or her belief,” Domenicali mentioned in a FOM assertion.
“Collectively, with all of the related F1 stakeholders, we’ll proceed to serve the very best curiosity of our followers, as they’re the heartbeat of every part we do.
“The fervour, the power and the adrenaline are the gas that powers me every single day to provide my best possible to Components 1.”
The FOM assertion mentioned Domenicali would lead the championship by way of the 2029 season, which would be the third of recent chassis and engine design rules coming into power 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 identical method to MotoGP, following Liberty’s acquisition of the bike world championship final yr.
However FOM sources all the time indicated this was broad of the mark and Domenicali’s place continued to seem robust whilst 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 happy with the present association and can enable Domenicali and his staff the liberty to function as they’d earlier than.
In the identical FOM assertion, Chang mentioned: “On behalf of Liberty, we’re grateful for his partnership and extremely optimistic in regards to the continued success the F1 staff 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.
Author : Motorsports
Publish date : 2025-03-15 02:13:14
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