Ferrari has paid Mattia Binotto extra compensation for 12 months of gardening leave: Reports

Mattia Binotto has now entered his period of "gardening leave" after Ferrari announced Binotto's decision to resign in November 2022.

According to Formu1a.uno, the Italian-Swiss engineer will be given extra compensation for the 12 months that his contract would have been valid for.

Meanwhile, Fred Vasseur will be taking over his role as the team principal from the upcoming 2023 season.

Mattia Binotto decided to leave the team he had been working with for almost 3 decades last November. While the reason for his departure was never explicitly stated, the team's underwhelming performances, despite having a competitive car in the 2022 season, must have played a part.

After Binotto's resignation from the team was announced, Fred Vasseur left Alfa Romeo to take over the reins at Ferrari. However, according to reports, Ferrari will still provide Binotto with 12 months of compensation to ensure he doesn't take up a position elsewhere in the sport: rival teams, FIA, or Liberty Media.

---

Fred Vasseur to begin work with Ferrari as their team principal

Former Alfa Romeo team principal Fred Vasseur will be taking charge of the Maranello-based outfit beginning this month. His experience in the sport is expected to bring the best out of the team in the upcoming 2023 season.

Although not much has been revealed about any major changes that the team is planning to make in the near future, there is an expectation that the team will function differently under Vasseur's leadership.

Fans are expecting changes in the team's strategic department because of the errors that were made in 2022. Along with this, the developmental pace of the team is an aspect that can be improved as well.

Ferrari will unveil their 2023 challenger on the 14th of February, and so far, there have been no reports about the potential development that the team has made in the car.

While it is quite apparent that they will be trying to battle for the world championship, it is difficult to assess against whom. Mercedes' W14 is expected to be much more competitive and Red Bull has shown no signs of slowing down. It could turn out to be a three-way race for the title in 2023.