Schumacher extends contract to 2006

Michael Schumacher has extended his contract with Ferrari until 2006, the team revealed on June 9th. Only last week Schumacher's manager, Willi Weber, said the reigning champion would probably make a decision on his future by the Italian Grand Prix in September.

However, Ferrari has announced that Schumacher's contract has been extended for a further two years. Michael's current agreement expires at the end of 2004 and there was speculation he might retire, but he's obviously not tired of racing just yet.

Ferrari also stated that team principal, and managing director, Jean Todt will continue in his role until 2006, along with technical director Ross Brawn, engine director Paolo Martinelli, chief designer Rory Byrne and head of engine design Gilles Simon.

The extension of the above contracts keeps Ferrari's key figures together, the team that has won four consecutive Constructors' championships and three consecutive titles for Schumacher.

"I love this sport I do and I feel extremely comfortable at Ferrari," said Schumacher. "It was therefore almost something to be taken for granted that I would extend my contract to the end of the 2006 season. The fact that Jean Todt and other key personnel in the team have also confirmed they plan to stay with Ferrari for the same period of time made this decision even easier to take."

"I am really pleased to be able to work with a team like this, with great friends, in the hope of enjoying even more success together. We have some exciting seasons ahead of us and, as usual, I am ready to give these great challenges my best shot. Ferrari is like a second family to me and I am proud to be part of this marvellous group."

Jean Todt is heading for ten years with Ferrari and is proud to continue heading the team: "In a few days time, I will reach the tenth anniversary of my joining Ferrari," he said. "I have always said that I would end my work in this field here at Maranello."

"I still have a great passion for my work and my motivation is the same as ever. I could not dream of being with a greater team. Staying here for a few more years is something to be proud of. I hope that we will be able to give our fans further great satisfaction. I am proud to head up this team and to work for the automobile legend that is Ferrari."