After 4 unsuccessful seasons, Mattia Binotto was sacked from his position as Ferrari’s F1 Team Principal. The Italian Engineer was succeeded by former Alfa Romeo Boss Fred Vasseur, who will presume duties from January 9th onwards.
Binotto has been a faithful servant of Ferrari for more than 25 years. The Italian engineer had worked with the team during their glory days with Michael Schumacher.
The Italian submitted his resignation and chose to step away from Ferrari. And as a result, he is set to pocket his $3 Million salary for 12 more months.
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Why is Ferrari still paying Mattia Binotto?
Mattia Binotto was appointed as Ferrari’s Team Principal in 2019, replacing Maurizio Arrivabene. The Italian oversaw a few challenging seasons as Ferrari struggled to fight for wins and suffered a big drop.
Ferrari managed to claw its way back to the top in 2022. However, the Italian team failed in their objective of securing their first driver’s title since 2007. And Binotto had to pay the price.
He resigned from his duties after Ferrari’s board expressed a lack of confidence in his leadership. Binotto will also part ways from Ferrari, a team he joined in 1995 as an engineer.
Leaving a prestigious team like Ferrari after devoting countless hours would be painful. But Mattia will still leave Ferrari with his pockets full.
Ferrari, reportedly, has agreed to pay the Italian Engineer his $3 Million Dollar Salary for an additional 12 months. This is to prevent their former boss from taking up a position in F1, FIA or a rival team.
What is ‘Gardening leave’ in F1?
Mattia Binotto is still being paid under the ‘Gardening Leave’ clause that most teams adhere to. This is an unofficial term used for mandatory paid leave that former employees must take after they have left a team.
When employees switch between teams, this is done to limit the spread of specialist information. Which is often technical data, something that is sacrosanct to each team and closely guarded amongst its personnel.
The length of the leave differs from team to team and is based on the hierarchy. Junior Engineers or Mechanics might have 3-6 months of leave. While someone like a Chief Technical Officer or Team Principal might have to spend a year or 2 outside of F1.
Also, teams are free to decide what their ideal period should be. But championship contenders like Red Bull, Ferrari and Mercedes would usually serve you the longest period.
Whilst on gardening leave, the former employee cannot exchange any information about their previous team. Nor can they join another team or take a position in F1 or FIA.
