Charles Leclerc has hailed Fred Vasseur’s “vision” and cold-blooded approach after the Ferrari team principal was handed a new contract following speculation about his future.

Ferrari announced a multi-year contract extension with Formula One team boss Fred Vasseur on Thursday, ending immediate speculation about the Frenchman's future at the helm of the sport's oldest, most successful and glamorous constructor.

Fred Vasseur’s multi-year renewal as Ferrari’s Formula 1 boss has come as a surprise ahead of the Hungarian Grand Prix.