Ferrari has renewed the contract of team principal Fred Vasseur, the team announced in Budapest, Hungary.
The extension, described as a “multiple-year contract,” comes amid a season without a race win and ongoing media speculation about Vasseur’s future. Specific terms of the deal were not disclosed.
The renewal was confirmed ahead of the Hungarian Grand Prix, where Ferrari is looking to improve its performance. Despite the lack of victories this season, the team reiterated its confidence in Vasseur’s leadership and strategic direction.
Last month, seven-time world champion Lewis Hamilton voiced public support for Vasseur, countering reports from Italian media that questioned the team principal’s job security.
Ferrari stated that the contract extension is intended to ensure stability and continuity in team management as it continues efforts to return to race-winning form in Formula 1.
