Maranello, July 31 (NationPress) Ferrari has officially confirmed a new multi-year contract for Team Principal Fred Vasseur, a strategic move the team believes underscores their commitment to enhancing the robust foundation established under his guidance since he took the helm before the 2023 Formula 1 season.

The Frenchman assumed leadership of the Scuderia following a successful tenure at Sauber and has since steered the team through a revitalized phase of competitiveness and organizational stability.

During his tenure, Ferrari narrowly missed out on the 2023 Teams’ Championship to McLaren, finishing just 14 points shy of the champions. Despite a significant points gap this season, as Ferrari trails McLaren by 268 points as the summer break approaches, they maintain a solid second place in the standings, ahead of Mercedes and Red Bull.

On the eve of the Hungarian Grand Prix weekend, Ferrari announced this new contract, putting to rest recent rumors regarding Vasseur’s future.

In June, Italian media reports indicated he was at risk of dismissal—a claim that deeply annoyed the 57-year-old, who described such speculation as “disrespectful” and “harmful to the team”.

However, Ferrari has demonstrated its confidence in him. “His ability to lead under pressure, embrace innovation, and pursue performance aligns perfectly with Ferrari's values and long-term goals,” the team stated.

“Under Fred's guidance, Ferrari is united, focused, and committed to ongoing improvement. The trust placed in him reflects the team's confidence in its strategic direction and strengthens a collective resolve to deliver the results that Ferrari's fans, drivers, and team members expect and deserve.”

Ferrari CEO Benedetto Vigna reiterated this sentiment, stating: “Today we want to acknowledge what has been built and commit to what lies ahead. This reflects our faith in Fred's leadership—trust grounded in shared ambition, mutual expectations, and clear accountability.

“We move forward with determination and focus, united in our pursuit of the performance level that Ferrari must strive for.”

Vasseur, instrumental in nurturing a robust internal culture, expressed gratitude for the extension. “I appreciate the confidence that Ferrari continues to place in me,” he remarked. “This renewal is not merely a confirmation; it is a challenge to continue advancing, maintaining focus, and delivering results.

“Over the past 30 months, we’ve built a solid foundation, and now we must build upon it with consistency and determination. We understand the expectations, and we are all fully dedicated to fulfilling those expectations and progressing together.”

The team has celebrated two podium finishes in the last three races, both achieved by Charles Leclerc, while Lewis Hamilton, in his inaugural season with the Scuderia, is gradually gaining confidence.