Stefano Domenicali renewed as head of F1 until 2029

Stefano Domenicali, currently President and CEO of Formula 1, has extended his contract with Liberty Media for an additional five years, keeping him at the helm of the organization until 2029. Since his appointment on January 1, 2021, Domenicali has played a key role in the global expansion of Formula 1, contributing to its commercial success and increased fan engagement.

Under his leadership, Formula 1 has experienced impressive growth, with increased demand for races worldwide, even though the calendar is capped at a maximum of 25 races per year due to the Concorde Agreements. This momentum has translated into commercial successes in various areas, notably with sponsors growing larger, such as the historic contract signed a few months ago with LVMH for 100 million euros per year over 10 years. Media rights are also still very lucrative, prioritizing pay channels that are willing to pay more. The Formula 1 ecosystem has never been stronger, benefiting all stakeholders and is set to welcome two new manufacturers in 2026: Audi (acquiring Sauber) and Cadillac with the addition of an 11th team next year.

In 2024, Formula 1’s revenue was growing by 6%, generating $791 million in profits representing a 9% increase compared to 2023.

Derek Chang, CEO of Liberty Media, expressed his satisfaction with this extension: « We are thrilled to renew Stefano and look forward to his leadership alongside the talented Formula 1 management team in the coming years. Stefano has been an excellent manager of the business, building on its strong foundations and accelerating the pace of Formula 1’s growth, both commercially and in terms of fan engagement. His energy and enthusiasm for the sport translate into a highly effective strategy and results. On behalf of Liberty, we are grateful for his partnership and incredibly optimistic about the continued success that the F1 team can bring to the sport, our fans, partners, and shareholders. »

Stefano Domenicali stated: « I am honored to continue leading this incredible sport, which I love and has been a part of my life since childhood, and I am grateful to the Liberty Media team for their trust. Together, with all the relevant F1 stakeholders, we will continue to best serve the interests of our fans, as they are the heart of everything we do. The passion, energy, and adrenaline are the fuel that drives me every day to give my best for Formula 1. »

Before joining Formula 1, Domenicali began his professional career at Ferrari in 1991, holding various positions until becoming team director in 2008. In 2014, he joined Audi AG as Vice President of New Business Initiatives and was then appointed CEO of Automobili Lamborghini in 2016, where he contributed to the brand’s growth in key global markets and achieved strong financial results.

This contract extension is part of a series of recent announcements aimed at reinforcing the stability and future of Formula 1. Agreements have been reached to extend the presence of iconic Grand Prix such as Monaco until 2031, Japan until 2029, and Italy at Monza until 2031. These extensions demonstrate Formula 1’s commitment to preserving its heritage while continuing to innovate and attract new audiences around the globe.