Stefano Domenicali, who has guided Formula 1 through explosive growth on the calendar and in popularity in recent years, will stay on as president and chief executive through 2029 under a five-year contract extension announced by the the global racing series and ownership group Liberty Media.

Stefano Domenicali will remain at the helm of Formula One until at least the end of 2029 after being handed a five-year contract extension by the sport's commercial rights holders Liberty Media.

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Stefano Domenicali will remain at the helm of F1 until at least the end of 2029 after being handed a five-year contract extension by the sport's commercial rights holders Liberty Media.

The 59-year-old Italian’s deal will run until 2029, and was announced just 24 hours before the first track action of the new campaign at Melbourne’s Albert Park.