F1 News, Reports and Race Results

Ferrari adds chief racing revenue officer to F1 management

Ferrari has appointed former AC Milan commercial boss Lorenzo Giorgetti to the newly-created position of chief racing revenue officer at the Scuderia.

Prior to joining top soccer team AC Milan, Giorgetti led for a decade the commercial management of RCS Media Group's sports division.

At Ferrari, the Italian's mission will consist in managing and sustaining the Italian outfit's commercial growth while boosting long-term relations with sponsors across all racing activities.

Ferrari chairman John Elkann with company CEO Benedetto Vigna

"We are delighted to welcome Lorenzo as our Chief Racing Revenue Officer," commented Ferrari CEO, Benedetto Vigna.

"With his experience and leadership, Ferrari will further develop long-term collaborations with our sponsors across all sport activities, including the emerging Esports world, and with our passionate global fan community."

"It is a true honor to join Ferrari and I do it with an equal sense of excitement and responsibility," added Giorgetti.

"Excitement at the great opportunities we can develop together with our esteemed sponsors and fans. And with a profound sense of responsibility towards the history and heritage of Ferrari and to everyone around the world for whom Ferrari is such a unique passion."

Read alo:

Vasseur: Leclerc contract talks 'not a priority' for Ferrari

This week, Ferrari published its results for fiscal year 2022 that reflected an expanding demand for its luxury sportscars.

Total shipments of 13,221 units were up 18.5% compared to 2021, while net revenues of €5,095,000,000 were up 19.3% relative to the previous year, resulting in a net profit for 2022 of €939 million.

On the sporting front, including F1, Ferrari's revenues from 'sponsorship, commercial and brand' rose 11% last year to 479 million euros, an increase mainly attributable according to the company to "the better prior year Formula 1 ranking and the contribution from lifestyle activities, partially offset by lower sponsorship".

Ferrari - where Frédéric Vasseur has replaced Mattia Binotto at the helm of the Scuderia - will unveil its new SF-23 F1 charger, that will be raced once again this year by Charles Leclerc and Carlos Sainz, on February 14 in Maranello.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.