Ferrari re-signs its superteam

According to an exclusive report in this week's Autosport magazine, on sale Thursday February 1, Ferrari has persuaded the three key players to remain with the team. The contracts of all three were due to expire at the end of this season, and there was intense speculation that Todt in particular was considering retirement from the sport.

Although Ferrari has yet to officially announce the news, a source close to the team said: "There was no reason to change things and everyone felt the same." Ferrari has already ensured that former chief mechanic Nigel Stepney stayed in the fold, rather than switch to Jaguar, by promoting him to race technical mechanic.

Michael Schumacher's current contract finishes at the end of 2002, and the German has said on numerous occasions that the trio were key to his title success. Their deals are thought to be linked with how long Schumacher stays with the Italian team.

"I feel very confident [about them staying]," said Schumacher. "As long as they are happy, then there is no reason to change."

Despite the news, Ferrari's president Luca di Montezemolo says he is in no rush to persuade Schumacher to extend his deal with the Prancing Horse.

"Due to the fact Michael has signed a contract for the next two years, it more more important for me to have the key elements of the team," he said. "To win you have to have a very good driver - we've got the best - a very good car and a very strong team. For me, that was my priority. Michael is signed for the next two years, so there is time to talk afterwards. I know in F1 everything is so quick, but with two years ahead there is plenty of time to discuss the future. It is not a question for today, it is tomorrow's decision."

Schumacher himself has also remained coy on the subject, but talked down the chances of him retiring when his contract runs out at the end of 2002. By that time, he will be 32-years old and will have raced in F1 for 12 seasons.

"I think one day my body will tell me when it is time to stop," said Schumacher. "If a young driver comes along and beats me, then it is time to stop. But it makes no sense to talk about my retirement now, because it is too far away."

Ferrari is believed to be considering offering Schumacher a £4 million pay rise to stay at the Prancing Horse from 2003 onwards, which would raise his salary to £20 million a year. Di Montezemolo has hit back at suggestions from McLaren boss Ron Dennis that Schumacher is not worth his substantial pay packet.

"Ron is so well informed about Ferrari!" stormed the Italian. "I don't want to talk about other people, but somebody wants to talk about Ferrari. I just want to talk about my people. I don't want to know how many millions of pounds he paid for Adrian Newey - because it doesn't matter."

For a full analysis of this week's Ferrari launch - plus those of British American Racing, Williams-BMW and Sauber - see this week's Autosport magazine, on sale Thursday February 1.