RAIKKONEN SIGNS NEW FERRARI DEAL

Paris, Aug. 22: Kimi Raikkonen has signed a one-year contract extension with Ferrari for the 2018 season, the Formula One team announced on Tuesday.

“Ferrari announces that Scuderia Ferrari has renewed its technical and racing agreement with Kimi Raikkonen,” a team statement read.

“The Finnish driver will therefore race for the Maranello team in the 2018 Formula One World Championship.”

Raikkonen’s signature comes after he chased home Sebastian Vettel in a dominant Ferrari display in the Hungarian Grand Prix last time out.

Vettel, who increased his lead over Mercedes’ Lewis Hamilton to 14 points, has yet to confirm his plans for 2018.

His contract expires at the end of the year but the German is expected to keep his easy partnership with the Finn intact for 2018.

“I think I have been public on the Sebastian issue, if he wants to stay he is more than welcome to stay,” said Ferrari president Sergio Marchionne after Hungary. In Shanghai, a new deal to keep the Chinese Grand Prix in the Formula One calendar has been agreed in principle and will likely be sealed within weeks, a senior F1 official said on Tuesday.

The sport, under ambitious new US-based owners, released its 2018 race schedule in June and Shanghai was only listed as provisional, along with Singapore.