Ferrari offers Vettel $120 million (4th Update)

UPDATE This rumor is upgraded to 'fact' today. Vettel will get at least $40 million per year for three years.

Wolff wants Vettel to just sign a 1-year contract
Wolff wants Vettel to just sign a 1-year contract with Ferrari so Mercedes can get him in 2019

08/07/17 (GMM) Sebastian Vettel's future might not be as clear as recent media reports suggest.

Italian sources report that Ferrari is preparing to confirm Vettel alongside Kimi Raikkonen for 2018 at Monza next month, with president Sergio Marchionne admitting a deal "may be close".

But Finland's Ilta Sanomat newspaper now cites sources in saying Ferrari and Vettel are in fact not in agreement over the duration of a new deal, with the German pushing for a mere one-year contract in order to leave his options open for 2019.

"It's true that I haven't got a contract yet," Vettel admitted, "but I think the primary objective at the moment is not worrying about papers but making sure we get good results."

Another rumor is that Vettel signed a pre-agreement with Mercedes prior to the 2018 season, whereby the 30-year-old would not agree a post-2017 deal until after July.

Vettel said: "As I've said, I'm not in a rush, I don't think the team (Ferrari) is in a rush, and as far as I understand I think I have a good contact with the team and they would tell me otherwise.

"So as I've said there's no problem — nothing wrong."

Vettel all smiles in Hungary
Vettel all smiles in Hungary

07/27/17 Sebastian Vettel has reiterated that he is no immediate rush to clarify his future beyond the end of the 2017 season.

The four-time World Champion and current Championship leader is out of contract at the end of the current campaign, but it has been reported that a new three-year deal worth $136.5m is on the table from the Scuderia.

However, at the Drivers' Press Conference ahead of the Hungarian Grand Prix, Vettel insisted he is still just focusing on each race and the time for contract talk will begin in the summer.

"it's true that I haven't got a contract yet," Vettel said. "But I think the primary objective at the moment is not to look at papers and worry about those.

"It is to make sure we get good results, obviously we have another opportunity to do that here [in Hungary] before the summer break and then there is a bit more time."

Vettel was then asked again by the press why there was a 'delay' on announcing his future, a word that the German did not neccessarily agree with.

He said: "I don't know about 'delay', I think we have other things to do right now. As I said, in the summer there is a bit more time without a race, but for now the focus is extremely high on working on the car.

"A piece of paper can be signed fairly quickly so it's not a problem."

When asked if he saw his long-term future with Ferrari, he added: "I don't see why not. But I'm certainly not ready [to commit] this weekend.

"I'm not in a rush, don't think the team are in a rush as far as I understand. I have good contact with the team so I think they will tell me otherwise."

07/16/17 (GMM) Ferrari wants Sebastian Vettel to sign a new three-year contract.

With the German's current deal up at the end of the season, he has been linked with a potential move to Mercedes — perhaps for 2019, once Lewis Hamilton's current contract has expired.

Vettel recently invited Mercedes chief Toto Wolff to his 30th birthday party in Switzerland, with Red Bull chief Christian Horner saying: "I would think he's got Toto in his ear saying 'Extend for a year (at Ferrari)'.

"And then he's probably got Ferrari saying 'It's three years or nothing'," Horner added.

Indeed, France's Auto Hebdo now reports that Vettel has been offered a new three-year Ferrari contract, valued at a total of EUR 120 million.

The report said Vettel would insist that, if he does stay at Ferrari, his friend and current teammate Kimi Raikkonen is also retained.

Auto Hebdo said Ferrari president Sergio Marchionne has agreed to a EUR 5 million extension for the Finn, although Raikkonen is yet to accept or reject it.

"I think the situation in the drivers market depends on Sebastian Vettel," said Horner. "But what is clear is that there will be no change at Red Bull Racing."

Binotto expects Sebastian Vettel will re-sign with Ferrari
Binotto expects Sebastian Vettel will re-sign with Ferrari

06/08/17 Sebastian Vettel has reportedly been issued with a deadline to make a decision on his future with Ferrari.

The four-time World Champion is out of contract at the end of the season and, according to German publication Sport Bild, Ferrari boss Sergio Marchionne wants Vettel's future to be resolved by the Italian Grand Prix in September.

Vettel has been linked with a move to Mercedes in the off-season, but Ferrari technical chief Mattia Binotto fully expects him to extend his stay with the Scuderia.

"Vettel is not only one of our drivers, he is a multi world champion. I think he will stay with us," Binotto told Gazetta dello Sport.

"Why? Because there is nothing more beautiful for a Formula 1 driver than to win with the reds (Ferrari)."

Vettel heads into round seven of the 2017 World Championship with a 25-point lead following his third win of the season at the Monaco Grand Prix.

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