Domenicali poised to replace Carey as Formula 1 boss

Former Ferrari Team Principal Stefano Domenicali is being lined up to replace Chase Carey as Formula 1’s new CEO.

Carey has headed Formula 1 since the championship was acquired by Liberty Media at the start of 2017, though was always likely to walk away after 2020.

Carey’s primary achievement was to secure a new Concorde Agreement, in the wake of being involved in the decision to introduce a budget cap for 2021, among other changes.

Those talks with teams were delayed while Formula 1 navigated its way through the Coronavirus pandemic.

It was confirmed earlier last month that all 10 teams had signed up to the new Concorde Agreement, which covers the 2021-25 seasons.

Carey, 65, is set to retain a role within Formula 1 but it is understood that Domenicali will take over his day-to-day role before the start of 2021.

The decision to appoint Domenicali has already been communicated to team principals.

Domenicali had a lengthy career with Ferrari, which included a brief stint running its Mugello circuit, and held the role of Team Principal in the wake of Jean Todt – now FIA President – stepping aside in 2007.

Domenicali oversaw Ferrari’s most recent Constructors’ title in 2008 but was sacked early in 2014 in the aftermath of the squad’s slow start to the season under new hybrid engines.

He then took up a position within the Volkswagen Group and in 2016 became the CEO of Lamborghini.

He has also headed the FIA’s Single-Seater Commission, the division of the sport’s governing body that focuses on the junior categories below Formula 1.

Under Domenicali the Formula 2 name was revived to replace the GP2 Series while a restructured Formula 3 category was launched in 2019, after the merger of GP3 and European Formula 3.