Ferrari director Mattia Binotto submits his resignation

Ferrari Formula One team principal Mattia Binotto has resigned, the Italian team announced Tuesday.

"Ferrari announces that it has accepted the resignation of Mattia Binotto, who will step down on December 31 as team principal," a statement read.

The 53-year-old Italian, who has assumed duties since the 2019 season, pays the price for repeated strategic mistakes and failure to compete seriously for the title, despite the car's tremendous development this year.

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