Ferrari pay 'extra compensation' to stop Mattia Binotto from joining rival teams

Ex-Scuderia Ferrari team principal Mattia Binotto will not be allowed to join any other Formula 1 team or any other entity that is part of Formula One for one year, or until the end of the 2023 championship.

Mattia Binotto left the Maranello team at the end of the last season, deciding to hand in his resignation as Ferrari team principal after rumours in the Italian media that he would be fired following a rather disappointing 2022 Formula 1 campaign, which was marked by reliability issues and several strategy mistakes that prevented Ferrari from challenging Red Bull for the titles. The Italian engineer had been in charge of the Formula 1 Racing Division for the last four years and left the Maranello team after working there for almost three decades (in 1995, he joined Scuderia Ferrari in the engine department).

Replacing Mattia Binotto is ex-Alfa Romeo F1 team principal Frédéric Vasseur, who yesterday took over his role and enjoyed his first day on the job at Maranello. Fred Vasseur has chosen to live in Modena with his family to be in close contact with everything that happens in Maranello.

As for Mattia Binotto, initial reports suggested that his gardening leave period would be of six months, but as recently reported by the trustworthy Italian website formu1a.uno, the 53-year-old engineer cannot sign with another F1 team: any rivals planning to move for Mattia Binotto will have to bide their time, due to a reported contract clause that restricts him signing elsewhere.

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The former Ferrari team principal had a contract that was available until the end of the 2023 campaign, which means that he technically remains bound to the Italian giants until the deals expires after the 2023 F1 season. Despite the fact that there was no happy end for Mattia Binotto in Maranello, the Italian manager’s knowledge and competence are indisputable and they would represent important assets for other Formula 1 teams, but even for potentially new sides that what to enter the sport, like the Andretti-Cadillac project that is already looking for staff as its gets ready to join F1 in 2026.

Mattia Binotto will reportedly not have to do any work for the Scuderia during the next 12 months and will not represent the Maranello team, but has been compensated financially for signing an agreement to stay out of the sport for one year. It remains to be seen if the Italian engineer will find a place at a rival team stating with the 2024 championship.

Yesterday was Frederic Vasseur‘s first official day in charge of the Ferrari Formula 1 Racing Division, but marked the end of Mattia Binotto’s chapter with the Maranello team.