Modern Formula One contracts worthless says Liuzzi

Stung twice in as many years, Vitantonio Liuzzi has admitted that today's Formula One contracts are effectively worthless.

At the end of 2010, the 30-year-old Italian was ousted by Force India with a season to run on his contract.

And now, Liuzzi looks likely to depart HRT, despite the former Red Bull and Toro Rosso driver insisting he has a full two years to run on his current deal.

"At the moment everything is very vague," he told the Italian website 422race.com.

Vitantonio Liuzzi, HRT F1 Team

Photo by: xpb.cc

"The main problem is that the team have no budget, so they are evaluating the way to get the money to have two drivers.

"For sure they would like to keep both me and Pedro (de la Rosa), but we are still in standby," added Liuzzi.

He acknowledged that while he is "fully" involved in HRT's 2012 plans right now, the situation could change at "any minute".

"Currently the deals (in F1) are worth very little, because a young driver with money can always come and buy the seat," said Liuzzi. "That's how it works."

A last-minute backup plan for the Italian could be a third driver role at another team, but it is also believed he might be eying a role in a series outside F1 -- perhaps sports cars.

"We are evaluating," he admitted, "because it's a decision to make. "For sure when the situation changes at the last minute it isn't easy to find places in top teams. "I'm open to new challenges, because it has always been part of my career."