The working contract extension of Fred Vasseur and Ferrari have recently come under the spotlight again. Ferrari is a veteran in the Formula 1 circles. Scudeiria Ferrari has been involved with the sport since the 1950s. This Italian team has really built a name for itself over the years. Any young race driver has at some point, or another dreamt of forming part of the team that has had drivers such as Schumacher, Fangio, Lauda, etc. taking the team to higher levels.
Taking Vasseur for another spin
Ferrari announced a multi-year contract extension with Formula One team boss Fred Vasseur on Thursday, ending immediate speculation about the Frenchman’s future at the helm of the sport’s oldest, most successful and glamorous constructor. 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.”
The magnitude that is team of Ferrari
Speaking to reporters later, Vigna said it was always accepted that it would take more than three years to turn things around and denied approaching anyone else. 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.
Former Ferrari driver Carlos Sainz, now with Williams, told reporters at the Hungarian that the team clearly wanted to put a lid on speculation that has unsettled staff at the Maranello factory. The Maranello factory, based within Maranello in Italy is home to the headquarters of Ferrari. It is also where their famous manufacturing facility is based. The factory was established during 1943 by the founder of this famous brand – Enzo Ferrari. Ferrari highlighted Vasseur’s ability to lead under pressure, as well as bring change to the team.
Building on a successful career
“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. Hamilton made a passionate defense 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.
Teammate Charles Leclerc said he was delighted. “Especially in the past month, there were quite a few rumors, like it’s always the case around the team. To finally have the official news out is important and I’m really happy,” he told reporters. Born in Monte Carlo, Leclerc himself is quite a noteworthy driver for Ferrari. During 2022 he was the runner-up in the F1 World Drivers’ Championship. He also won a total of 8 Grand Prix’s across eight seasons.
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. Vasseur’s career in this sport has come a fairly long way. French born Vasseur is more than just a motorsport executive, with interests also extending onto the business and engineering environment. Before becoming team principal for Ferrari, he also fulfilled a similar role for Sauber, Alfa Romeo as well as Renault.