Domenicali extends F1 CEO contract through 2029

Stefano Domenicali has secured a five-year contract extension to remain as president and CEO of Formula 1 through 2029, as announced by Liberty Media. Domenicali has been leading F1 since 2021 and is credited with significant growth in both fan engagement and the series' financial health, including the expansion to 24 races and the addition of new U.S. Grand Prix events. He expressed gratitude for the opportunity to continue in a role he is passionate about, emphasizing the importance of fans in driving the sport forward. Under his leadership, F1 has also seen a boost from the popular Netflix series 'Drive to Survive.' The renewal comes at a crucial time as F1 prepares for new chassis and engine regulations and future negotiations for U.S. media rights following the current deal with ESPN, which ends in 2025. Liberty Media's new CEO, Derek Chang, has expressed satisfaction with Domenicali's leadership amidst recent organizational changes.