The statement read: "Ferrari announced today that Ferrari S.p.A. has extended, with a multiple-year contract, its agreement with Fred Vasseur, who will continue as team principal of Scuderia Ferrari HP for the coming Formula 1 seasons.

"Renewing Fred’s contract reflects our determination to build on the foundations laid so far. His ability to lead under pressure, embrace innovation, and pursue performance aligns fully with Ferrari’s values and long-term ambitions.

"Under Fred’s leadership, Scuderia Ferrari HP is united, focused, and committed to continuous improvement. The trust placed in him reflects the team's confidence in its strategic direction and reinforces a shared determination to deliver the results that Ferrari’s fans, drivers, and team members expect and deserve."

Vasseur's previous contract was due to expire at the end of the current season.

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Reports in Italian media at the Canadian GP last month claimed that Vasseur's position was under threat. The team principal then launched into a furious rant at those suggestions, labeling them "disrespectful."

Having signed a new contract, pledging his future to Ferrari, Vasseur said: “I’m grateful for the trust Ferrari continues to place in me. This renewal is not just a confirmation — it’s a challenge to keep progressing, to stay focused, and to deliver.

"Over the past 30 months, we’ve laid strong foundations, and now we must build on them with consistency and determination. We know what’s expected, and we’re all fully committed to meeting those expectations and taking the next step forward together.”

While Benedetto Vigna, CEO of Ferrari, added: “Today we want to recognize what has been built and commit to what still needs to be achieved.

"It reflects our trust in Fred’s leadership — a trust rooted in shared ambition, mutual expectations and clear responsibility. We move forward with determination and focus, united in our pursuit of the level of performance Ferrari has to aim for.”

Ferrari currently sit second in the Constructors' Championship, though have less than half of the points of leaders McLaren.

Norris and Piastri are running away with the Drivers' Championship too, while Leclerc and Hamilton sit in fifth and sixth place respectively.