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Ferrari to pay $1.5 million to Mattia Binotto for not joining rival team for next six months

Tanish Chachra
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Ferrari to pay $1.5 million to Mattia Binotto for not joining rival team for next six months

Mattia Binotto is reportedly set to leave Ferrari after the Maranello-based team’s disappointed with his failure to win the title in 2022. The questionable strategies and reliability became Binotto’s kryptonite.

According to multiple reports, Binotto has also given in his resignation. But there is no official confirmation about his departure from the team. He has been serving for a long time.

Meanwhile, Ferrari is also looking for suitable replacements for his position. Alfa Romeo team principal Frederic Vasseur is the favourite to take over from Binotto in 2023.

Also read: When Daniel Ricciardo accidently revealed his Sebastian Vettel bathroom towel

Ferrari to pay a heavy amount to Mattia Binotto

As per the RacingNews365, Binotto is on his way out from Ferrari. The Italian is among the most talented engineers on the grid. More than a team principal, he is recognized for his work on the car.

He was among the key members in Ferrari’s dominance under Jean Todt and Michael Schumacher from 2000-2004. So, any day, any team would want him to be at their helm.

According to RacingNews365, to prevent Binotto from joining any team immediately, they are reportedly giving him six months of gardening leave. Thus, it amounts to $1.5 million of his $3 million annual salary.

Nobody wants to join Ferrari

There have been reports that Ferrari has reached out to several candidates to replace Binotto. From Mclaren boss Andreas Seidl to Red Bull team principal Christian Horner. It’s found that nobody is interested in the role.

Ferrari legend and former Mercedes team principal Ross Brawn has also been approached for the role. But he is keen on retiring at the end of this year.

So, that makes Vasseur a favourite for this role. On the other hand, Binotto getting a six-month gardening leave means no other rival team could manage to use him for next season. So, 2024 could be a bidding contest among teams to get his services.

Meanwhile, some sources have reported that Binotto has given his resignation letter. He is still the team principal right now and heading the meetings with Ferrari looking for replacements.

Also read: Why Max Verstappen thinks some drivers should stop racing?

About the author

Tanish Chachra

Tanish Chachra

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Tanish Chachra is the Motorsport editor at The SportsRush. He saw his first race when F1 visited India in 2011, and since then, his romance with the sport has been seasonal until he took up this role in 2020. Reigniting F1's coverage on this site, Tanish has fallen in love with the sport all over again. He loves Kimi Raikkonen and sees a future world champion in Oscar Piastri. Away from us, he loves to snuggle inside his books.

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