With conversations about the FIA presidency heating up, a report has surfaced detailing that Ferrari chiefs, John Elkann and Fred Vasseur, as well as Mercedes boss, Toto Wolff, met to discuss the topic. The reported meeting between the trio was held during the Hungarian Grand Prix weekend.According to Italian outlet F1 INGENERALE, the motorsports executives, who were pictured together at the Mercedes hospitality centre, also exchanged views about the upcoming regulation changes set to herald Formula 1 in 2026. The report further highlights that the Scuderia Ferrari duo and the Mercedes team chief touched on the topic of the power unit — a subject that has largely courted controversy ahead of next season and the FIA president election slated for December.Conversations concerning the FIA presidency in particular have largely become a topical issue in the F1 circle following the fallout current president Ben Sulayem has had with several stakeholders in the motorsports governing council. The Emirati who succeeded Jean Todt in December 2021, has largely continued to court controversy and earlier in the season was in the spotlight for the sanctions which were introduced for drivers swearing during races.The 63-year-old, who is poised to contest for another tenure as president of the FIA, is set to be greeted by stiff competition from Tim Meyer, who previously served as a race steward in F1, amid several roles he has undertaken in the motorsports circle.Ferrari chief John Elkann on extending Fred Vasseur’s contractScuderia Ferrari chief John Elkann also weighed in on extending Fred Vassuer’s contract. The underfire team principal was announced to have signed a multi-year contract with the Marenlleo-based outfit ahead of the commencement of the Hungarian Grand Prix race weekend.The decision of the Ferrari hierarchy to extend the contract of Vasseur had come at a time when his immediate future was largely in doubt. However, Elkann, who spoke to the media during the Budapest race weekend, explained why it was the right decision to extend the contract of the Frenchman.''Fred has led and helped Ferrari make progress over these years,'' Elkann said during his interaction with Sky Sports Italia when quizzed about the decision to extend the contract of the 57-year-old. (via GPBlog)We finished second and were close to winning the Constructors’ Championship. This year, we are again second. 'It’s important to strengthen when someone is making progress. The value of working with Fred lies precisely in the desire to keep going and constantly improve. That’s the spirit.''The Ferrari team have enjoyed relative success since the appointment of Vasseur as team principal ahead of the 2023 season. The team finished third in the Constructors’ championship that season and moved a notch higher, pushing McLaren all the way to the final race in Abu Dhabi for the decider of the 2024 crown.However, the 2025 season has not unfolded in a manner many would have envisaged, with the team over 260 points behind the Woking-based outfit.