Question marks are being raised about Stefano Domenicali's role at the top of Formula 1 as his future with Liberty Media comes into doubt.
At last week's Il Festival dello Sport event in Trento, the Italian CEO boasted about the transformation and surge in popularity that F1 has enjoyed under his leadership. "If F1 had remained tied to the old themes, it would not have had this evolution," Domenicali told Sky Italia. "We had to understand the sensitivity of those who follow us, with different ages, opinions, and sensibilities.
"It is a platform that has gone from being purely sporting to entertainment," he added. "The drivers remain at the centre, but we have expanded the product through social media, stories, and thinking about the need to attract younger people. And this is giving us great credibility on a commercial level."
Domenicali further emphasized the current strength of the sport, claiming, "We have never been so strong. Everyone wants to come, because F1 is where you have to be. What we have done in a short time has been incredible, and now we have to think about expanding further."
However, despite this growth, reports from British, Spanish, and German media suggest that Domenicali's role in blocking the Andretti-Cadillac bid to enter Formula 1, which triggered U.S. political investigations, could complicate his contract renewal negotiations. The 59-year-old's contract is reportedly only secured until the end of 2025, with Spain's Diario Sport naming potential replacements such as Christian Horner, Toto Wolff, and Zak Brown.
German journalist Ralf Bach also claims that Domenicali's name appears prominently in the U.S. Department of Justice investigation into F1's rejection of the FIA-approved Andretti team bid.
Former F1 driver Ralf Schumacher commented on the ongoing growth of the sport since Domenicali's predecessors, Bernie Ecclestone and Chase Carey, departed. "Even in Bernie's time, people thought that it couldn't get any better," Schumacher told Sky Deutschland. "And today, Formula 1 is worth well over 20, almost 30 billion euros. The teams are worth almost two billion euros each."
He added, "You can see the enthusiasm worldwide. The drivers are well known, not least through Netflix. It has taken on a whole new dimension."
Schumacher also noted that premium brands are returning to Formula 1, stating, "The premium brands are coming back, which for a while were moving a bit more towards electric. But that's over now because Formula 1 has simply become more modern and sustainable. And somehow there seems to be no upper limit at the moment." body check tags ::
