Alfa Romeo and Sauber Motorsport have reached a multi-year agreement, with yearly assessments, to remain partners in Formula 1.
Alfa Romeo joined Sauber as a title sponsor in 2018, before the team, based out of Hinwil, Switzerland, was renamed Alfa Romeo Racing in 2019.
The team has run a driver line-up of Kimi Raikkonen and Antonio Giovinazzi since Alfa Romeo assumed naming rights, however it is yet to confirm its drivers for 2022, when new regulations will be introduced.
Alfa Romeo says the new agreement “will allow the two parties to develop their vision for the future in a stable environment” and create an exciting future for both parties.
“We are delighted to be announcing the extension of this partnership,” said Alfa Romeo Racing Team Principal Frederic Vasseur.
“Alfa Romeo have been an incredible companion over the last few years, and we are even more excited about the chapters that are yet to come.
“The new regulations are giving us the chance to make another step forward and I firmly believe we are perfectly placed to make big gains together. We are looking forward to our future together and to keeping moving towards the front of the grid.”
Jean-Philippe Imparato, Alfa Romeo CEO, added: “As an historic Italian automotive brand, Alfa Romeo was born on the racetrack. Today we are proud to continue honoring that racing DNA by placing it at heart of the future of our Brand.
“We are driven by passion and excellence. Formula One represents a cutting-edge laboratory for the future electrification of our range, fully coherent with our vision for the coming years.
“Furthermore, Motorsport brings the incomparable global exposure we wish to leverage for a successful future.”
Alfa Romeo holds eighth in the standings, a position it has occupied for the past three seasons.
This means the will have enough money to extend Kimi Raikkonen’s contract, who has lots of speed and experience. The other factor would be the technical aspect. They need to work on their car (engine/chassis) and strategy.