The move brings an end to Giovinazzi's association with Alfa Romeo and Sauber which began in 2017 when he stood in for Pascal Wehrlein at the start of the season before becoming a full-time driver in 2019.
In a social media post after his departure was announced, Giovinazzi said: "F1 is emotion, talent, cars, risk, speed. But when money rules it can be ruthless.
"I believe in the surprise of an unexpected result, of big or small victories achieved thanks to one’s commitment."
@F1 is emotion, talent, cars, risk, speed. But when money rules it can be ruthless. I believe in the surprise of an unexpected result, of big or small victories achieved thanks to one’s commitment. If this was my first picture on a F1, the last still has to be taken 💪 pic.twitter.com/atAw5FwtRm