Ferrari confirms Fernando Alonso’s contract

Ferrari has finally confirmed the arrival of Fernando Alonso. The contract between the Spaniard and the Scuderia is for a duration of 3 seasons starting next year. The two-time active world champion will replace Kimi Räikkönen, after Ferrari finally reached an agreement with the driver to terminate his contract. The Finn was supposed to stay with Ferrari until the end of the 2010 season.

Alonso will probably, and even barring any last-minute changes, be Felipe Massa’s teammate. The Brazilian is still recovering but has scheduled his return for the start of the 2010 World Championship.

“We are particularly proud to welcome to our team another Grand Prix-winning driver, who has repeatedly demonstrated his incredible talent by winning two world championship titles during his career so far,” declared Scuderia Ferrari Director Stefano Domenicali. “Of course, we would like to thank Kimi Räikkönen for all he has achieved with Ferrari. He won the title in his first season with us, which is a huge contribution to the history of Scuderia Ferrari. He also played a crucial role in securing the 2007 and 2008 constructors’ titles.”

«Even during a difficult season like this one, he has demonstrated his incredible talent, with several excellent results, including a superb victory in Belgium, at Spa-Francorchamps. We are sure that we will share more good moments during the rest of this season.»

Fernando Alonso’s salary is estimated at 25 million euros per season and will be covered thanks to the financial support of the Spanish sponsor Santander. The Santander bank has signed a 3-year sponsorship contract with Ferrari for a total of 180 million euros. In addition, there is a bonus of 90 million euros in the event of a championship title.