Ferrari to Pay Raikkonen Off, $12.5M Worth

While dealing with Michael Schumacher's cancellation of his Formula One return, Ferrari are also thinking of how to get rid of Kimi Raikkonen prior to his contract's expiration date. The Finn's driving deal with the Scuderia runs out at the end of 2010, but the Italian team seems more eager to get Alonso inside the Ferrari cockpit from as early as next year.

For that to happen, they need to convince Raikkonen to let go of his one year of contract and make room for Alonso – as Felipe Massa's leaving the team is out of the question. According to British newspaper The Sun, it seems Luca di Montezemolo is willing to pay the Finnish driver half his contract in 2010 to renounce his seat.

Raikkonen's deal with the prancing horse for a single year is $25 million worth, which means Ferrari are on the verge of paying him $12.5 million to go look for another team inside Formula One. However, should the Finn decide to take the offer, it's unlikely that he'll continue to race in the series, as he has stated more than once in the past that he wants Ferrari to be his last team in F1.

“They say the Italian giants have told the 2007 World Champion he can have half the value of his 2010 contract - thought to be worth £25million - to end it one year early,” said the report coming from the aforementioned tabloid.

Although never confirmed, it seems Alonso has already signed a deal with Ferrari due to come into effect in early 2011. However, with Ferrari reportedly on the verge of securing Grupo Santander as new sponsor of the team for the upcoming seasons, it's likely that they'll push for Alonso's joining them from 2010.