Elkann supports Vasseur's continuation as rumors come to a close.

      "It’s crucial to maintain stability and instill confidence."

      Ferrari chairman John Elkann made a rare appearance in the paddock at the Hungarian Grand Prix, openly supporting team principal Frederic Vasseur after announcing a multi-year contract extension ahead of the summer break. In light of earlier rumors that Vasseur could be blamed for Ferrari’s inability to mount a consistent title challenge, Elkann commended the Frenchman’s leadership and advancements.

      "Fred has contributed to Ferrari's progress in recent years," Elkann stated to Sky Italia. "Last year, we finished second in the standings and were close to winning the world championship. This year, we also hold second position."

      "It’s important to empower someone who is making strides. The value of working with Fred is in the collective desire to keep advancing and continuously improving. That’s the appropriate mindset."

      He continued, "When you experience improvement, it’s essential to provide not only stability but also the confidence to achieve even more."

      Vasseur addressed his new contract on Friday in Hungary, telling Sky Italia: "In F1, there’s no magic - everything lies in the details. At the season's start, we had to make some compromises which affected our development pace. But now we’re back on the right track."

      When asked about the timing of his contract renewal, Vasseur remarked: "Building a team requires time and patience. It takes two or three years to assemble the right people, followed by one or two years to see results. There are no shortcuts."

      "We’re laying a solid foundation and will soon reveal new additions."

      Former Ferrari team principal Mattia Binotto, who now heads Audi-owned Sauber, understands the experience of being removed by the Maranello-based team. In Hungary, he commented on the differing leadership styles of the two organizations, stating, "Everything is a bit more spontaneous at Ferrari," as he shared with Sport Bild. "In Switzerland, a detailed concept is crafted for every idea and strictly followed. I appreciate that."

      After a challenging first half of the season, Elkann emphasized the need for ongoing unity within the team. "At Ferrari, it's not the individual that matters most, but the collective effort of many extraordinary individuals," he expressed. "Only when we can collaborate effectively and work in harmony can we accomplish great achievements."