On Thursday 11th October, 2007 the A1GP officials announced, that a contract with Ferrari was signed. They are going to supply engines for A1GP and are also going to participate in the whole monopost design, although they are not going to produce it. The contract is valid from the next season, it means 2008/2009 and was signed for six years. From the January 2008 we can watch the slogan "Powered by Ferrari" on the A1GP monoposts, which usage of is also the part of the agreement.

The A1GP officials claim, that it will bring more interest and more prestige for the race, because Ferrari belongs no doubt to the most motorsport well known names. They are also big criticians of the current F1 races. However, there is still a question about the future of A1GP, because the organisers have losses in the hundreds of millions of dollars.