Alonso's Ferrari move still on

(GMM) The renewal of Kimi Raikkonen's Ferrari tenure was announced recently at Monza, but the news has not stopped speculation about the future of the Italian team's lineup.

'Mediaset', a major Italian television network, is claiming this week that Fernando Alonso could still be poised to switch to the Maranello based team following next year's championship.

It is reported that Alonso, 27, has already signed an agreement, and that Ferrari will simply terminate Raikkonen's newly-announced deal with a small buyout.

Mediaset said the contract extension announced by Ferrari at Monza was the result of Raikkonen triggering a one-sided option in his current contract to renew for one more year.

The Finn's option, however, reportedly leaves the door open for Ferrari to pay a financial penalty and annul the contract. Mediaset said Ferrari's unannounced new 2010 sponsor, Santander, could pick up the bill.

The rumor also ties in with rising speculation that Alonso is set to stay at Renault for another season in 2009, rather than switch to BMW-Sauber or Honda and then need to move yet again to Ferrari in 2010.