Ferrari Offer Vettel Three-Year Deal Worth $138.5 Million

Credit: Scuderia Ferrari

Scuderia Ferrari have reportedly offered Sebastian Vettel a new three-year contract worth around $138.5 Million.

The Italian team aim to sign Vettel on for the future as the German’s current contract with Ferrari expires at the end of this season.

But according to Autoweek, Ferrari have offered a bumper contract for the four time world champion, with a value of around $138.5 Million.

Vettel hasn’t been vocal about his contract situation at Ferrari but has said that he wants current team-mate and friend Kimi Raikkonen to stay on. Raikkonen’s contract runs out at the end of the season as well, with rumors that the Finnish driver might retire when he turns 38 in October.

According to France’s Auto Hebdo, Ferrai chairman Sergio Marchionne have offered Raikkonen a year extension worth $5 million but the Finnish driver has yet decide whether to sign on or not.

There have been speculation surrounding Vettel’s future with a possible switch to Mercedes next year after reports showed Mercedes AMG Petronas Formula 1 team boss Toto Wolff was invited to Vettel’s 30th birthday party and with current Mercedes driver Valtteri Bottas not contracted for next year.

Red Bull Racing team boss Christian Horner told ESPN Vettel holds the keys to the driver market.

The former team boss of Vettel said: “I guess Sebastian probably holds the key to the driver market at the moment” 

Horner believes that the rest of the driver market will fall into place when Vettel has decided what to do with his future.