Ferrari hand Fred Vasseur new multi-year contract to continue as Team Principal

Ferrari have handed their Team Principal Fred Vasseur a multi-year contract, which the team say “reflects Ferrari’s determination to build on the foundation laid so far”.

Vasseur joined the Italian squad ahead of the 2023 Formula 1 season and, under his watch, the team challenged McLaren for the 2024 Teams’ Championship until the last race before finishing just 14 points behind the champions.

While they trail McLaren by a mammoth 268 points as the sport approaches the summer break this year, Ferrari are still P2 in the Teams’ Championship, fending off rivals Mercedes and Red Bull.

On the eve of the Hungarian Grand Prix weekend, Ferrari announced they have renewed Vasseur’s contract.

“His ability to lead under pressure, embrace innovation and pursue performance aligns fully with Ferrari’s values and long-term ambitions,” the team said in a statement.

“Under Fred’s leadership, Ferrari is united, focused and committed to continuous improvement. The trust placed in him reflects the team’s confidence in its strategic direction and reinforces a shared determination to deliver the results that Ferrari’s fans, drivers and team members expect and deserve.”

Ferrari CEO Benedetto Vigna said: “Today we want to recognize what has been built and commit to what still needs to be achieved.

“It reflects our trust in Fred’s leadership – trust rooted in shared ambition, mutual expectations and clear responsibility.

“We move forward with determination and focus, united in our pursuit of the level of performance Ferrari has to aim for.”

Vasseur, who joined Ferrari having previously been in charge of Sauber, added: “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.

“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.”

F1 Correspondent Lawrence Barretto says…

Ferrari’s decision to extend and announce Vasseur’s contract extension brings to an end speculation surrounding the Frenchman’s future at the team.

The 57-year-old was angry and irritated during the Canadian Grand Prix weekend in June when media reports in Italy suggested he was at risk of losing his job.

He said at the time that such reports were “disrespectful” and were “clearly hurting the team”.

One of Vasseur’s key strengths is his ability to shield and protect his team from external factors and promote a strong, supportive culture internally.

Despite the uncertainty and speculation, he’s managed to do just that – with the team keeping their heads down and securing an upturn in form since Canada.

They’ve secured two podiums in the last three Grands Prix courtesy of Charles Leclerc, with seven-time world champion Lewis Hamilton starting to find his feet, too.

There is still plenty of work to do, mind. The gap to McLaren is huge, with the reigning Teams’ Champions overwhelming favourites to retain their title.

The new deal will help restore a greater sense of calm among the team and allow them to focus on trying to take advantage of sweeping new chassis and power unit regulations for 2026.

But now that Vasseur’s immediate future has been secured, Ferrari senior management will expect him to lead the team to respond well to those rule changes and challenge for both championships next year.