Ferrari's contract situation with Sebastian Vettel has now taken a massive U-turn with recent reports emerging that the Italian outfit has offered Sebastian Vettel another contract extension, although the news of which is yet to be confirmed from both the parties. Recently, British reports had emerged that the four-time F1 World Champion had rejected Ferrari's one-year contract extension with the German looking at a multi-year contract comprising of a salary much higher than what Ferrari is currently offering as part of its new deal.
Sebastian Vettel recently had said that he wanted to continue driving for Ferrari despite his current deal expiring at the end of 2020. Vettel had said that the deal between him and the team will be the one they both are comfortable with. He had also said that his previous contracts were all three-year deals and he is one of the most experienced drivers in F1, but not the oldest.
According to a report published by Essentially Sports, the Scuderia team is offering is a multi-year contract but with reduced pay. The report states that Ferrari offering a reduced pay in the multi-year contract is due to the financial crunch caused by coronavirus. Sebastian Vettel currently earns £35 million ($43.3 million) with Ferrari, which makes him the second-highest-paid F1 driver behind Mercedes' Lewis Hamilton. Italian publication La Gazzetta Dello Sport has earlier reported that Ferrari’s earlier contract for Sebastian Vettel was valued at £12 million ($13.1 million).
Sebastian Vettel had a dismal 2019 season where he finished behind teammate Charles Leclerc in the Driver’s Championship in terms of points. Leclerc and Vettel had a turbulent second half to the season in which both the drivers were involved in a crash during Brazil GP. Ferrari also faced disappointment with the Italian outfit finished the 2019 season at the second place in the Constructors' Championship.
Image courtesy: Sebastian Vettel News Twitter