The 30-year-old divorced husband of six years James Stunt 14 months ago in what was regarded as one of the most expensive - and acrimonious - marriage splits in modern Britain. They have three children together. Palmer, a former car dealer who now runs an art gallery and announced that he and Petra intend to wed this year after just a few months of dating.
"Petra Ecclestone and Sam Palmer are delighted to announce their engagement and look forward to spending 2019 together," a spokesperson for the couple told Mail Online. Palmer (34) first shared the news on Instagram, saying his highlight of the year had been "with the woman I love and her agreeing to marry me".
It's believed the couple were introduced through Petra's sister Tamara and her husband Jay Rutland, who is close friends with the groom-to-be.
In 2011, Stunt and Ecclestone exchanged vows in lavish fashion - in Odescalchi Castle in Rome in front of 350 guests, where Eric Clapton, David Guetta and the Black Eyed Peas performed in an incredible €12m celebration and their division of assets ran into the billions before settling last October.