Formula 1 has announced that President and CEO Stefano Domenicali has extended his contract for another five years, keeping him at the helm of the sport through to 2029. Domenicali, who took on the role on January 1, 2021, has been instrumental in driving Formula 1 to new levels of success.
Alongside the contract extension, F1 has released data revealing that its global fanbase has surged to a record 826.5 million — an increase of nearly 90 million since 2023. Following Liberty Media’s acquisition of F1 in 2017, the United States has remained one of the sport’s fastest-growing markets, expanding by 10.5% to 52 million fans between 2023 and 2024.
The continued push from Formula 1 Management (FOM) and teams to grow U.S. engagement — supported by three Grands Prix in the country, including at the Miami International Autodrome on May 2-4 this year — has further cemented F1’s position within mainstream American sports.
F1’s global expansion and the increasing demand for races continue to align with the sport’s strategy of engaging new audiences and enhancing the fan experience.
“I am honoured to continue to lead this incredible sport, which I love and has been part of my life since my childhood and I’m grateful to Liberty Media for their trust,” said Stefano Domenicali, President and CEO of Formula 1.
“Together, we will continue to serve the best interest of our fans, as they are the heartbeat of everything we do. The passion, the energy and the adrenaline are the fuel that powers me every day to give my absolute best to Formula 1.”
Before joining F1, Domenicali began his professional career at Ferrari in 1991, where he held various positions, increasing his responsibilities until he became Team Principal in 2008.
