Visa Cash App Racing Bulls has signed Alan Permane to a long-term contract extension that will keep him in the combined roles of Team Principal and Co-CEO Sporting through the end of 2031.
The Formula 1 team announced the agreement on 6 November. Permane joined as Racing Director in January 2024 and became Team Principal in July 2025. He continues to lead the sporting side alongside Peter Bayer, whose parallel Co-CEO role covers the commercial organisation.
The published term gives Racing Bulls continuity across several seasons of the current Formula 1 technical cycle. The team operates from Faenza and Milton Keynes, and its official statement presents the extension as a platform for longer-term organisational development rather than a change to the existing management structure.
Racing Bulls and Red Bull have not disclosed Permane’s compensation, performance conditions, termination rights, ownership interest or whether the agreement contains extension options beyond 2031. MRI has therefore reported only the confirmed term and roles.
The team says Permane has contributed to improved sporting performance since his promotion, citing regular points finishes and a fight for fifth in the 2026 Constructors’ Championship. Those assessments are company claims and have not been treated as independent evidence of the contract’s future effect.
Permane previously spent 34 years with the Enstone organisation in race engineering, chief race engineering and sporting roles. That history provides experience context but is separate from the new contractual commitment.
MRI compared the official and canonical source URLs, headline, Racing Bulls, Alan Permane, Peter Bayer, the 2031 end date and the 6 November announcement date against existing MRI news. No duplicate or near-duplicate article was found.
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