Alonso is F1's highest paid racer

(GMM) World champion Fernando Alonso will be the highest paid formula one racer in 2007, according to new reports.

While it has been suggested that Kimi Raikkonen inherited Michael Schumacher's legendary pay-packet for being 'number one' at Ferrari, the Spanish newspaper Diario As claims that the Finn's new salary is actually eclipsed by F1's reigning title winner.

McLaren will supposedly pay Alonso, 25, nearly (US) $40m this year, compared to Raikkonen's $24m.

'As' adds that the retired Schumacher's last Ferrari pay packet tipped the scales at $46m.