Ferrari principal Binotto to leave at end of year

Ferrari have confirmed the departure of team principal Mattia Binotto, ending a professional relationship that extends all the way back to 1995.

The 53-year-old, who originally joined almost three decades ago as a member of their engine department, succeeded Maurizio Arrivabene in 2019 in charge of the Scuderia.

But his departure has been widely expected following a Formula One season that saw Ferrari rival Red Bull in the early stages before dropping away amid a series of technical errors and operational failures.

Binotto will officially depart at the end of the year, on December 31, with the team adding a search for his successor is already underway.

"With the regret that this entails, I have decided to conclude my collaboration with Ferrari," he confirmed in a statement.

"I am leaving a company that I love with the serenity that comes from the conviction that I have made every effort to achieve the objectives set.

"I leave a united and growing team. I think it is right to take this step at this time, as hard as this decision has been for me."

Ferrari chief executive officer Benedetto Vigna paid tribute to Binotto, and added he leaves the team in a prime place to continue to compete at the top of the sport.

"I would like to thank Mattia for his many great contributions over 28 years with Ferrari and particularly for leading the team back to a position of competitiveness during this past year," he stated.

"As a result, we are in a strong position to renew our challenge, above all for our amazing fans around the world, to win the ultimate prize in motorsport.

"Everyone here at the Scuderia and in the wider Ferrari community wishes Mattia well for the future."