By Volker Gundrum Apr 25, 2006, 16:15 GMT
Hamburg - Michael Schumacher will stay at Ferrari and not move elsewhere if he decides to continue his illustrious Formula One racing career beyond the season, his manager, Willi Weber, said on Tuesday.
'If he continues it will only be at Ferrari,' Weber told Deutsche Presse-Agentur dpa.
'I am waiting for his decision. If I were him I would continue for another two years,' he said.
The 37-year-old German Schumacher has so far not announced his future plans. He said he will most likely stay at Ferrari if he races on but won't make up his mind until summer.
There has been plenty of speculation and interest from other teams to sign the seven-time world champion.
Weber said that there have been no talks so far with Ferrari but he expects a quick agreement if Schumacher decides to race on.
Weber said that Schumacher would continue 'on the same terms as his current contract' which is said to be worth an annual 35 million euros (43 million dollars).
Germany's Bild daily reported earlier Tuesday that Schumacher has been offered such a two-year deal by Ferrari which he only needs to sign.
Team boss Jean Todt was quoted as saying by Bild: 'We will reach an agreement as soon as Michael wants to. It won't take five minutes.'
Bild said that the contract included an option allowing the 37- year-old Schumacher to retire immediately if he wins another world title.
However, this clause could also mean that Schumacher will not be allowed to join another team if he terminates the deal before 2008.
'He can get out of the contract earlier (than 2008) without problems after the 2007 season, or even after the current season. That is because the contract has a championship clause. If he wins the title this year he can retire immediately, if he wants to,' said Bild.
Bild said that Schumacher and Weber are looking into when to announce the deal, which according to the paper could already happen in the next race, the European Grand Prix on Germany's Nurburgring on May 7.
Schumacher is the most successful driver in Formula One history. He won five of his seven world titles for Ferrari which he joined in 1996.
The team went through a slump last year, but Schumacher was back on top of a race podium last Sunday in Imola and expressed his confidence that he can fight holder Fernando Alonso of the Renault team, whom he trails by 15 points, for the world title.
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