Stefano Domenicali, who has overseen Formula 1’s explosive growth on the calendar and popularity in recent years, will stay on as president and chief executive through 2029 through a five-year contract extension, the global racing series and ownership group Liberty Media announced Wednesday.
The 59-year-old Italian has been in charge of F1 since 2021 and has steered the series as it expanded to 24 races, added sprint events and two new U.S. grand prix in Miami and Las Vegas, and will add an 11th team, American-owned Cadillac Formula 1, in 2026. The series is in the final year of its U.S. broadcast deal with ESPN.
“Stefano has been an excellent steward of the business, building on its successful foundation and accelerating Formula 1’s rate of growth both commercially and in fan engagement,” said Derek Chang, president and CEO of Liberty Media. “His energy and enthusiasm for the sport translate into highly effective strategy and results.”
Domenicali is a former Ferrari team principal and Lamborghini CEO.
“I am honored to continue to lead this incredible sport, which I love and has been part of my life since my childhood and grateful to the Liberty Media Team for their trust,” Domenicali said.
Domenicali took over as president and CEO after the pandemic-shortened 2020 season. The series was on the cusp of rapid growth, notably in the U.S., fueled by its popular “Drive to Survive” series on Netflix and the tumultuous driver’s championship duel in 2021 between Mercedes’ Lewis Hamilton and Red Bull’s Max Verstappen. Verstappen won the title in a disputed final race of the season in Abu Dhabi.
Since then, the series added races in Miami in 2022 and Las Vegas in 2023, and returned to China last year for the first time since the pandemic. It also signed a 10-year sponsorship deal with French luxury brand giant LVMH.
His tenure has not been without bumps in the road. The series initially rejected a bid for the 11th team when it was headed by Michael Andretti, prompting an investigation by the U.S. Justice Department. Domenicali was rumored last year to possibly leave F1 for MotoGP once Liberty’s purchase of the global motorcycle racing series was approved.
The Formula 1 season starts Sunday at the Australian Grand Prix, where Verstappen begins his quest for a fifth consecutive title, and Hamilton, now with Ferrari, pursues a record eighth championship.
