Ferrari to offer Schumacher contract extension

Ferrari are reportedly willing to offer seven-time champion Michael Schumacher a one-year extension to his current contract, according to a report in TZ magazine. Schumacher is contracted with Ferrari until 2006 but the Italian team are prepared to offer him another 12 months on his 30 million euro a year deal. Schumacher trails Renault's Spanish sensation Fernando Alonso by 34 points in the championship race but Ferrari technical director Ross Brawn believes the German is determined to put things right. "Michael is the only person who will decide when he wants to stop," Brawn told TZ. "He is obsessed at solving problems and getting us back on the winning track."