Ferrari in no rush to extend Schumi's contract

<img border='0' align='left' title=' ' src=' ' class='caption'> The Ferrari Formula One team has indicated it is in no rush to extend the contract of champion driver Michael Schumacher.

updated: February 25, 2007 09:27 IST
  • Total Shares

Maranello, Italy:

The Ferrari Formula One team indicated today it is in no rush to extend the contract of champion driver Michael Schumacher. "We're content at the moment," Ferrari spokesperson Luca Colajanni said today. "When the time comes to talk about the contract, then we'll talk, but it's a little early now". Schumacher, who drew even with Argentine Juan Manuel Fangio by clinching his fifth career drivers' title after winning Sunday's French Grand Prix, has a contract with Ferrari through 2004. The 33-year-old German is currently paid $32 million per year. "We have a very stable group, with everyone under contract," Colajanni said, referring to the team's other driver, Brazilian Rubens Barrichello, who is also signed for two more years. Colajanni was asked about the contract situation following comments made by Schumacher's manager, Willi Weber, to German media members yesterday. Weber said he sees "no reason not to extend the contract with Ferrari through 2006". Besides sharing the drivers' titles record with Fangio, Schumacher has also won more races (61) than anyone else. He passed the previous record-holder, Frenchman Alain Prost (51), last season. Schumacher has often said he would like to race until he's 40. Some believe Schumi wants to win 100 races before he retires! (AP)