Italian publication reports Fred Vasseur’s contract extension was enforced due to lack of ‘real alternatives’ on the market

Fred Vasseur may have committed to a multi-year contract at the Scuderia Ferrari outfit, a report of the possible reason behind the team’s decision to tie the Frenchman to a new contract has surfaced. A report has suggested the possible reason why the Marenello-based outfit opted to extend the stint with the 57-year-old.

According to a report from the Italian outlet, La Gazzetta dello Sport, the Ferrari team could have opted to extend the contract of Vasseur due to the lack of a suitable alternatives. The newspaper hinted that the team also considered the appointment of Head of Endurance Racing outfit Antonello Coletta.

It, however, concluded that the decision to tie Vasseur to a new deal by the team’s executive was similar to the scenario that played out with former team principal Mattia Binotto.

“…Perhaps the lack of real alternatives on the F1 market. Promoting Coletta was a possibility, but he said no.” “Something similar happened in the summer of 2021, when Elkann looked for a figure to replace Binotto, then postponed in 2022.”

Prior to the announcement of the renewal of Fred Vasseur's deal, the team principal had seen his role with the team linked with several other motorsports executives. Former Red Bull Racing team boss, Christian Horner, was also rumored to be considered for the role in the final weeks in his lead-up to his sacking.

So far, Vasseur, who was appointed team principal ahead of the 2023 season, has led the Italian outfit to a second-place finish in the constructors’ standings, and he appears well on course to repeat a similar feat through the 2025 campaign.

Ferrari chief John Elkann's comments about Fred Vasseur’s contract extension

Ferrari chief John Elkann earlier reacted to the contract extension of Fred Vasseur. The 49-year-old detailed the move to continue with the French team principal at the helm of its Formula 1 outfit is the right step toward its long-term success.

Elkann, who was present at the Hungarian Grand Prix weekend, shared his thoughts during an interaction with Sky Sports F1. The Ferrari executive chairman stated:

"Frederic has led Ferrari and helped it to progress over the years. We finished second and were close to winning the Constructors’ Championship. This year, we are again second. 'It’s important to strengthen when someone is making progress. The value of working with Fred lies precisely in the desire to keep going and constantly improve. That’s the spirit.''

While the contract extension of Fred Vasseur has continued to stir endless reactions, particularly across the Italian media, the Ferrari team appears well on course for another second-place finish in the constructors’ standings. Albeit this time, the Prancing Horse is over 260 points behind the first-place team, McLaren.

Edited by Tushar Bahl