Ferrari has a good thing going as far as this year’s Formula One is considered. They’ve got the right drivers in the seat, with Sebastian Vettel still leading the points in this year’s drivers championship. Albeit by a single point. The problem is thanks to Ferrari’s over involved nature in the Formula One, they do have a high rate of attrition. Which didn’t change this year, with the year starting with rumours that both Kimi Raikkonen and Sebastian Vettel were planning to jump ship after Ferrari? Now Ferrari is obviously very keen on keeping Vettel exactly where he is, offering him a whopping 138.5 (888 crore) million dollar three-year extension which works out to a little 40 million a year. Now the former world champion is no fool, he’s been very quiet (in general) but also when the topic turns to his future. It’s likely that this seemingly magnanimous offer from Ferrari has created with the basic intention of keeping him on. Sebastian had also mentioned that in order for him to continue his run at Ferrari, his friend, Kimi Raikkonen must also be offered a contract. Ferrari has kept this part of their demands as well offering Kimi a 5.7 million dollar renewal option. Although Kimi is yet to furnish them with an official response.
The plot thickens when Totto Wolf, Mercedes Team Boss, enters the picture. Wolf was one of the specially invited guests to Vettel’s 30th Birthday celebrations, which led people to believe that a switch to Mercedes might be on the cards.
Now, Ferrari has obviously extended the offer for three years or bust which means that Vettel will not be able to extend a year then jump to Mercedes next season. Which means the drivers market is entirely dependent on Vettel’s next move, although Vettel is yet to accept or decline the offer.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.