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Alonso could earn 150m euros at Ferrari UPDATE (GMM)  Ferrari has denied media reports about the impressive terms of Fernando Alonso's new contract.

Some Spanish reports this week suggested that the 27-year-old former double world champion will earn 25m euros per year, which is less than the retainer enjoyed since 2007 by the man he replaces, Kimi Raikkonen.

It has also been reported that in addition to Spaniard Alonso's 3 year deal are contracted options for 3 further years, and that terminating Raikkonen's contract is costing Ferrari a whopping 45m euros, partly paid for by the Spanish sponsor Santander.

"The numbers talked about have absolutely nothing to do with reality," said a report on Ferrari's official website.

"It's easy to write numbers, forgetting that the world has changed recently.  At Ferrari a lot of calculating is done and attention is not only paid to the costs of the operational structure, but also as far as the drivers are concerned."

The Ferrari report also scoffed at suggestions that Alonso is set to bring with him from Renault some of his preferred engineers.

"It's quite funny reading about the arrival of technicians, as if there weren't any professionals in Maranello, able to plan and manage victorious single seaters and drivers," said the Italian team.

09/29/09 (GMM)  Fernando Alonso's new Ferrari contract could see him race for the famous Italian team until the end of the 2015 season, and earn him 150 million euros, according to reports on Tuesday in the Spanish press.

The reports, in the newspapers AS and Diario Sport based mainly on the information of the radio station SER, said Spaniard Alonso, 27, is guaranteed three seasons at Maranello with an automatic option to extend in 2013 and 2014.

In addition to the terms of three years plus two, yet another conditional option to extend until the end of 2015 is reportedly also included.  It is believed he will earn about 25 million euros every year.

The document has purportedly already been deposited with the Contract Recognition Board, and could be announced officially at 10am local from the Suzuka circuit in Japan on Thursday.

However, Italy's Corriere dello Sport claimed that while an announcement on Thursday is likely, the official news might also have to wait until Friday.

Former twice world champion Alonso, who has driven for Minardi and McLaren and is moving from his current team Renault, is also expected to take with him some of his preferred engineers.

His replacement at Renault will almost certainly be the Pole Robert Kubica, whose teammate will be the incumbent Romain Grosjean.

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