Kimi to earn $1m per week in 2007

(GMM) With the retirement of Michael Schumacher, his replacement at Ferrari has inherited the envious mantle as Formula One's highest earner.

Kimi Raikkonen, to make his test debut for the Italian squad in January, will in 2007 earn about a million US dollars per week, according to the Swiss daily newspaper 'Blick'.

The publication said the Finn's annual income will surpass $51m.

Schumacher, on the other hand, has retired to his Swiss mansion with a personal fortune of more than an estimated $800m, while his role as Jean Todt's 'assistant' next year – and continuing sponsorship contracts – should see the German maintaining a more than $10 million annual income.

The seven time world champion's 2007 income is only marginally less than brother Ralf and Jenson Button's $16 million for driving for respectively Toyota and Honda, but more than Giancarlo Fisichella and Felipe Massa (approx. $10m).

British specialist magazine F1 Racing lists back to back world champion Fernando Alonso's 2007 wage at $35m, while rookie hotshots Robert Kubica, Lewis Hamilton and Heikki Kovalainen will all make less than $2.8m each.