Manager Says Schumacher Offered New Ferrari Deal

World Champion Michael Schumacher has been offered a new deal to continue driving for Ferrari beyond 2004, according to his manager Willi Weber.

"We are in no hurry," Weber said in interview with Germany's Die Welt newspaper today. "There's an offer from Ferrari to stay beyond 2004. Michael will let me know when he has made a decision on his future. Then we'll meet and close a deal."

34-year old Schumacher has a contract with the Italian World Champions until the end of 2004, but the German said earlier this year that he would make a decision on his future later this season. The five-time champion has been driving for Ferrari since the start of the 1996 season.

Weber, who is also the manager of Michael's younger brother Ralf, dismissed stories that the Williams driver had been talking to the Toyota team over a future drive after his contract with the British squad expires at the end of 2004.

Weber said, however, that Toyota and McLaren were his favourite choices should the German leave Williams.

"Toyota is on top of my list of teams," Weber added. "But it would be completely wrong to start discussions over a new contract. That would be disloyal to Williams. Williams is and will remain the first option."