New Delhi | Agencies: Ace driver Sebastian Vettel on Tuesday announced that the contract covering his services would not be extended. As a result, he will be leaving Ferrari beyond its current expiry date of the end of the Formula One season 2020. 

"My relationship with Scuderia Ferrari will finish at the end of 2020," Vettel said in an official statement.

He was expected to sign a new contract with the team before racing is supposed to resume later this year. The German had told reporters last month that he could have a new deal before the start of the season. Even Ferrari had said that German was their first choice.

As per a report from AFP, it has been widely reported that Ferrari had offered him only a one-year contract extension at a significantly reduced salary.

Ferrari is yet to announce a replacement for the four-time world champion. In a statement, team principal Mattia Binotto said, "This is a decision taken jointly by ourselves and Sebastian, one which both parties feel is for the best."

"The team and I have realised that there is no longer a common desire to stay together beyond the end of this season. Financial matters have played no part in this joint decision.," Vettel told Reuters.

Where the 32-year-old will go now, and whether he will remain in the sport which has been delayed due to coronavirus outbreak around the world, are big questions.

Vettel is viewed as a Ferrari great as he has recorded 14 Grand Prix wins making the third most successful driver for the team. He is also the one who has scored most points with Ferrari.

In the last five years, Vettel has finished in the top three of the Driver's Championship thrice.


(with ANI, Reuters inputs)

Posted By: James Kuanal