Weber: Schumacher to Decide in March

Schumacher told reporters during Monza testing a couple of days ago that he will make a decision whether to continue racing or retire from Formula One some time in 2006, adding that he would stay with Ferrari should he continue to race.

And his manager Weber told reporters this weekend that the decision will be made sooner rather than later next year.

"Michael will decide at the beginning of the 2006 season, in March, if he wants to continue his F1 career in 2007 as well," Weber was quoted as saying. "I hope that he continues for two more seasons. But if he continues, the negotiations will be only with Ferrari."

Weber was angry at suggestions made in recent weeks that his client would only renew his contract if he received a significant salary raise, with some sources quoting the German's demands at €40 million ($50 million USD). Reportedly, Schumacher currently earns $30 million USD a year, not including his income from merchandising and personal sponsorship deals.

But Weber has made it clear that the negotiation for extending the contract will not involve any demands for a raise.

"This is absolutely nonsense," Weber said. "We are willing to continue with the existing terms of Michael's current contract."

Schumacher joined Ferrari in 1996, and with ten seasons at the Italian team, he holds the record for the longest consecutive partnership between a driver and a team in Formula One.