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Vettel sticks with Ferrari for three more years in 'a no-brainer' move

SPA-FRANCORCHAMPS, Belgium (Reuters) - Sebastian Vettel ended speculation about his immediate Formula One future by signing a three-year contract extension with Ferrari on Saturday. The Italian team, the sport's most successful and glamorous, said the new deal covered the 2018, 2019 and 2020 seasons but gave no further details in a statement of just 30 words. There will be inevitable questions about possible release clauses, not to mention speculation about how many tens of millions of dollars the 30-year-old German will be earning over the period. But the news, at the Belgian Grand Prix and a week before his team's home Italian race at Monza, will allow Ferrari to concentrate on fighting for the championship without distraction. "I love this team. I love the people who are working for this brand," Vettel told reporters later. "Ferrari has something unique, something that other teams don't have. People talk about a legend. To me it appears that this legend is still alive because of the people who work for it, day in, day out. "In a way, it was a no-brainer to continue. We haven't yet achieved what we wanted to achieve but things are looking pretty good, and obviously we have a long road ahead of us," he added. The four-times champion, who joined Ferrari from Red Bull in 2015, is 14 points clear of Mercedes rival Lewis Hamilton in the current standings with nine races remaining. The German had been out of contract at the end of this season and there had been speculation about a possible switch to Mercedes -- a move that would have sent a tremor through the paddock. Hamilton, a triple world champion who has one more year left on his Mercedes contract, laughed off that possibility earlier in the week when he told reporters that his rival did not want to be his team mate. Niki Lauda, the Mercedes non-executive chairman, told Sky Sports that there had been talks with Vettel but team principal Toto Wolff said that was not the case. Vettel's Finnish team mate, Kimi Raikkonen, the 2007 world champion, has already agreed a contract extension for 2018, keeping Ferrari's line-up unchanged for next year. Raikkonen, 37, and Vettel get on well, with the Finn playing the role of loyal sidekick to the team's main championship contender. Mercedes are now likely to retain Finland's Valtteri Bottas, who joined in January from Williams as a replacement for now-retired 2016 champion Nico Rosberg on a one-year deal with options.

Enzo Ferrari would have turned 120 yesterday

Former race driver-turned company founder Enzo Ferrari was born 120 years ago Sunday, and the Italian sports car maker is celebrating the anniversary with a photography exhibit of his life at the Enzo Ferrari Museum, on the site of his birthplace in Modena. The exhibit includes images of il Commendatore during various stages of his life, from childhood to his career as an Alfa Romeo race driver, then a manager and manufacturer. Ferrari died Aug. 14, 1988 at the age of 90. Born outside of Modena, Italy in 1898. His father, Alfredo, owned a small metal engineering shop that built bridges and roofs for the state railway. Enzo started out as an Alfa Romeo racing driver in 1924 but quickly transitioned to his true talent, preparing the race cars under the Scuderia Ferrari name. He ran Alfa Romeo's factory team before striking out on his own, first under the name Auto Avio Costruzioni in 1939, then as Scuderia Ferrari, which he founded in 1929 in Modena, fielding mostly Alfa racing cars and motorbikes. The 125 S was the first official car to bear his name in 1947, powered by a V12. Ferrari under his watch went on to produce other classics including the 288 GTO, the Dino series and the 365 Daytona. The iconic businessman reluctantly agreed to start producing street cars only thanks to the pleading of his accountants, who argued for the need for revenue to cover the overhead of racing and two different factories destroyed during World War II bombings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. According to a 1979 People Magazine profile, he once reacted indignantly to the distraught wife of a Ferrari race team driver who was anguished over her husband risking his life "for a hunk of iron." "It's not just a hunk of iron," Ferrari replied. "It has a heart and soul, and I give if life." Nowadays, Ferrari is looking to expand its product portfolio to hybrids and an SUV, the latter of which might've made Enzo squirm. "He was a man with extraordinary vision and ability to manage people and resources as well as a strong entrepreneurial spirit and exceptional courage," current Ferrari Chairman and CEO Sergio Marchionne said in a statement.

Trump's old Ferrari F430 sells for $270,000

You may remember that Auctions America was going to sell a 2007 Ferrari F430 owned by the current president of the United States. It was estimated at between $250,000 and $350,000. It went for auction this weekend and just barely fell into that range. According to Bloomberg, Donald Trump's old Ferrari failed to meet the reserve, set at $250,000, with a final bid of $240,000. However, Auctions America said the car sold after the auction at $270,000. So the auction company did get its estimate right, but just barely. As for what the new owner purchased, he or she got an F430 with celebrity and presidential heritage, the F1 automatic gearbox, low miles, a service history, and a classic Ferrari red paint job. Of course we still stand by our preference for a manual one in our choice of color and without any celebrity history (or baggage depending on your opinion). Check out our original piece for more details on the car. Related Video: