The Ferrari team principle Stefano Domenicali is pleased that the world champion Kimi Raikkonen is remaining with the Italian team despite his disappointing title defence.
The Ferrari team principle Stefano Domenicali is pleased that the world champion Kimi Raikkonen is remaining with the Italian team despite his disappointing title defence.
The Ferrari team principle Stefano Domenicali is pleased that the world champion Kimi Raikkonen is remaining with the Italian team despite his disappointing title defence.
The Ferrari team principle Stefano Domenicali is pleased that the world champion Kimi Raikkonen is remaining with the Italian team despite his disappointing title defence.

Raikkonen is still the man


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Kimi Raikkonen has been backed to bounce back from his disappointing world championship title defence by his Ferrari team principal Stefano Domenicali. The Finn has won only two races this season and any lingering hope of retaining the title he won so dramatically in Brazil last October was ended by his crash in Singapore last month. But despite his below-par results, which have seen his Brazilian teammate Felipe Massa become the team's championship contender, Domenciali still has confidence in his man and said he was pleased that the Finn had signed a deal that would keep him with the team until the end of 2010 alongside Massa.

"We are very pleased he has signed a new contract, absolutely, and that's why we did it," the Ferrari team principal said. "We needed to make sure Kimi has a car that he can drive in and he is happy with. All the speculation is not very interesting because it is always the same. I trust him and he is working well with the team. "We had been having discussions about his contract for a long time and we are happy. When you take this decision you have to take a lot of things into consideration.

"All the ingredients led to the fact that we now have both drivers until the end of 2010." Domenicali, 43, worked his way up from company administrator in 1991 to take over the top job with the Italian team from Jean Todt last year. While this season has been demanding as Ferrari attempt to defend their drivers' and constructors' titles, the Italian says he loves his job. "You find the motivation inside," he said. "This is something I always wanted. I was born in Imola so it was natural to like motorsport and want to be part of it. Being at Ferrari is a dream and a challenge.

"Teams are working hard to knock us off the top; you cannot underestimate how difficult this is. When you have to recover the gap it's easier, but when you are up there and then have to stay there, every race, every year, winning the titles, it can be very difficult." Ferrari in recent years have built up a strong link-up in the Emirates after forging a partnership with Mubadala, which will come to the fore next year when the maiden Abu Dhabi Grand Prix is held at Yas Island, which will also includes a Ferrari World theme park on its site.

Mubadala, the investment arm of the Abu Dhabi Government, bought a five per cent stake in them two years ago and then became sponsors of the Scuderia team last year. This opened up a whole new window of opportunity for the prancing horse. The sponsorship agreement, which was recently extended until 2010, now covers the capital's grand prix races for the next two years as well. Domenicali said: "The Middle East is an important market for us and it is going to grow even more than it has.

"We will share with them the project of Formula One, everything that is involved in it. For Ferrari, it is part of our DNA, part of our core business. It's difficult to think of Ferrari without Formula One. "It's important for the Mubadala group, apart from the investment side, to use all the tools of our effort and project to enhance the presence in the worldwide business. All the tools connect to the Ferrari world because on one side you can exploit everything that is connected to the brand and then on the other side you can connect to the technology we use for the cars.

"Yas Island is connected to our brand, our business and our technology and we can work together. "All the things are there to achieve the target that Mubadala wants to achieve. In what we can do, it's the perfect wedding." One investment at Yas Island, being built by Aldar, is expected to be a Ferrari racing academy. A chance to groom an Emirati driver for Formula One in the future then? "I have to be honest, it's very difficult," Domenicali acknowledges. "You have to have a talent and be able to grow.

"You need to have the right people, right company or the right investors who can support you because starting in racing when you are young is very expensive. "But an Arab driver in Formula One? Never say never. When you have talent it could happen in two years - boom. If you are someone who stands out it could be short term, but generally it will be long term. "There will be a track next year and the park can help develop drivers in love with Ferrari for the future. It all links together in this unique relationship.

"We are very excited about what's going on in Abu Dhabi. It's a new track and it will be different because we will be surrounded by us, with all the things we are developing together in the theme park. For sure we will feel at home and it will be special." akhan@thenational.ae

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE