Rumor has it that Michael Schumacher is close to extending his contract with Mercedes GP, contract that expires at the end of the 2012 F1 season.

Michael Schumacher returned last year in Formula 1 after a three years absence and signed a three year deal with Mercedes GP, saying that he has long-term plans in the second stage of his driving career.

But it seems that the deal between the two parties might extend further than 2012, as both the Mercedes GP officials and Schumacher seem pretty close to a contract extension.

Norbert Haug, the Mercedes Motorsport Department Chief, suggested that the contract extension depends only on Schumacher’s will of continuing with the team. Haug said that he’d be very happy to see Schumacher commit future to Mercedes GP, “If Michael wants it [the contract extension] and we can agree on a right price [the wage].”

Michael Schumacher, Mercedes GP

Michael Schumacher’s manager, Sabine Kehm, talked about the seven times F1 world champion’s interest in signing a new deal. “Of course we are open to discussions, because with the team we feel very good,” said Kehm.

Schumacher will be 43 years old at the time his current deal with Mercedes GP F1 Team expires at the end of 2012 F1 season.

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Sebastian Vettel extended his contract with Red Bull Racing until 2014, just like the other 50 key employees of the technical department.

Red Bull F1 Team have strengthen their position in the Formula 1 world for at least three more years, as they managed to keep the F1 world champion of the 2011 season, Sebastian Vettel, for three more years, both the key staff of the team.

The German driver’s contract with Red Bull was expiring at the end of the season, but Vettel and the Austrian team reached an agreement until 2014, even though the previous deal had an one year extension clause.

Sebastian Vettel, Red Bull Racing

As well, 50 of the key members of the technical department signed contract extension until 2014, among them the famous engineer, Adrian Newey, the Red Bull F1 Team Chief Technical Officer, responsible for the development of the Red Bull Racing F1 cars. “This includes around 50 people of the upper and middle management – basically everyone who is important for securing RBR’s top level performances,” Marko added.

Red Bull Racing officially confirmed Vettel’s new contract and of the key staff shortly after the media wrote about the subject.

But Red Bull F1 team had a completely different approach for Mark Webber, whose deal expires at the end of 2011. The Australian will negotiate a new deal towards the end of the summer, depending on his performances.

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Mark Webber thinks that Red Bull F1 team is ready to start the new Formula 1 season, but he avoids making predictions for the first Grand Prix of the year.

Red Bull Racing stood out in this winter’s tests as one of the big favorites in the fight for the Formula 1 World Title, as Sebastian Vettel and Mark Webber constantly registered competitive times.

For this reason Webber said that Red Bull Racing is ready to start the new season, even though the team has three more days to spend on tweaks for the Red Bull RB7.

“You can always do with more time – but I feel we are ready to go now and get into it. We will see where we are. You always learn more when you go racing about your strengths and weaknesses as a team. That comes from pace, reliability, pitstops, organisation, Saturdays/Sundays, the whole thing. So the whole weekend needs to be tested shortly and we will go from there. We are only a few days away from that,” said the Australian at the end of the test day one in Barcelona.

Even though, the Red Bull F1 Team driver kept from making predictions for the Australian Grand Prix scheduled for March 27 and he believes that it would be fool to believe Red Bull dominates the first GP of the season.

“We are not going to sit here and say we are going to destroy the first race and kill everyone, because that would be naive. There are a lot of people with similar pace – don’t worry about that. It is pretty obvious that the team is incredibly motivated, and organisation-wise we are in great shape – so we are building on what we did last year. But I don’t think there is a huge amount of evidence to go on from the previous eight weeks to be honest, because today we see everyone with similar pace. Ferrari isn’t here, and McLaren is not hanging around either,” Webber also said, talking about Ferrari F1 Team, which will start testing in Barcelona starting Wednesday.

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Jenson Button claims that McLaren F1 Team is not capable to be a competitive math for Red Bull Racing and Ferrari F1 Team in Australia, but he is optimistic about the coming updates.

McLaren is one of the teams that caught media’s attention at their F1 car launch, because of their extravagant rear diffuser.

Subsequently, the performances in tests were far from those anticipated, but the engineers have brought in Barcelona this week a new front wing an a sensor for the nose of the car that caught the attention, as well.

But the future is not so bright in the eyes of Jenson Button, who said that McLaren doesn’t seem capable of facing the rivals of Ferrari F1 Team and Red Bull Racing in Australian Grand Prix.

“I’d be surprised if we can match Red Bull and Ferrari when we get to Melbourne. It’s a big ask. To be on their pace is going to be tricky. It hasn’t been the best start to the year in terms of mileage, reliability and pace but we have made some progress. The laps I spent on the circuit on lower and higher fuel were quite a good improvement on what I experienced here at the last test. There is still more work needed to be as quick as Red Bull, Ferrari and maybe one or two other teams. You’re not going to be happy being the third fastest team, but there is a lot you can do from that position, and considering the last few tests and our pace, you’d be reasonably be happy with that,” said the Brit at the end of the first test day.

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Lewis Hamilton will have the opportunity to test a NASCAR car this moth on the legendary track of Watkins Glen.

The former Formula 1 world champion, Lewis Hamilton will be attend an “experience exchange” between Formula 1 and NASCAR, the National Association for Stock Car Auto Racing.

The McLaren F1 Team driver will jump behind the wheel of a Chevrolet Impala on the legendary track of Watkins Glen, as he will make a demonstration along with Tony Steward, a regualr of the NASCAR Sprint Cup. Steward, will have the opportunity to test the performances of  the 2010 McLaren F1 car.

The “experience exchange” announcement comes only days after McLaren confirmed they will supply fuel injection systems for NASCAR starting 2012.

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Christian Horner have minimized Sebastian Vettel’s desire to drive for Ferrari F1 Team and believes that the German can transform Red Bull Racing into a “legendary” team.

Sebastian Vettel, the new Formula 1 world champion, said several times that he dreams of driving for Ferrari, at a certain moment in his career.

Far from being worried about the German’s wish, the boss, Christian Horner, believes that the driver’s statements are normal, given the tradition Ferrari F1 Team has, but he hopes that Vettel would transform Red Bull into a “legendary” team, too.

“Just because he’s romantic doesn’t mean he’s going to give up everything that we have built together. As long as we offer him the perfect car, he will stay here. We are regarded more as the cool team. But who knows, maybe one day we will also be legendary – thanks to Sebastian,” said the 36 years old Brit for Bild magazine.

Otherwise, shortly after expressing his wish to compete for Scuderia Ferrari, Vettel confirmed he would stay at Red Bull F1 Team as long as he drives a competitive car. “I am happy with Red Bul, they give me the fastest car,” he said

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Sebastian Vettel believes that Felipe Massa and Michael Schumacher will get back to the form they previously showed in F1 and anticipates that Fernando Alonso and Lewis Hamilton will play an important role in 2011.

Felipe Massa and Michael Schumacher had a modest 2010 Formula 1 season, looking unable to adapt to the new technical regulations.

Even so, from Vettel’s point of view, the tow ex-Ferrari team-mates are still fierce rivals in the race for the world title, because of their past performances.

“Massa didn’t have a good season but no one should underestimate him; it’s not so long ago that he was really strong [the Brazilian fought for the world title in 2008].  I think neither of them have forgotten how to drive. Schumacher’s history is too great to write him off, and Nico Rosberg has also showed us his strength,” said the German for Sport Bild magazine.

Still, when it comes to the world title fight, Vettel admits that Fernando Alonso and Lewis Hamilton are his main rivals. “Alonso for sure, and Hamilton is without question one of the best drivers. If our car is good enough, he [Webber] will get involved again,” Vettel added.

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Renault F1 Team launched on Monday the new F1 car, called R31, on the track in Valencia.

Renault F1 became on Monday the fifth team in Formula 1 to launch their singleseater in front of the international press, hoping that the new car will bring them the progress they crave for in the 2011 season.

Named Renault R31, the new attack weapon of the Franco-Brit team has a black-gold livery, in order to mark the arrival of the Lotus automaker as main partner of the F1 team.

Regarding the technical specs, the new R31 features the high nose, which seems to be a common characteristic of all F1 cars for 2011, but also a longer exhaust system, looking like one of Ferrari F150.

More pictures of the Renault R31 F1 car will be available on Tuesday after the first testing session begins in Valencia.

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Mercedes GP unveiled on the Valencia track the new W02 F1 car they will use in the 2011 Formula 1 season.

Mercedes GP is the third and the last team to launch their  new F1 car, which they hope to bring them success in the 2011 Formula 1 season.

The pictures of the new Mercedes GP W02 car are not an absolute novelty, as the team presented on Sunday a rendered picture of the new F1 car. So, the new W02 features a high nose, present on all F1 cars for the 2011 season, as well some changes of the air intakes and the sides, changes that can be easily spotted.

Regarding the layout, Mercedes GP have changed the shade of their silver, and now is easier to spot the green coming from their main partner, Petronas.

More pictures will be available later.

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Red Bull Racing have unveiled the first official pictures of the new Red Bull RB7 designed by Adrian Newey, with the team putting their hopes in this F1 car to bring them the world title again.

Red Bull F1 Team have revealed the new RB7 F1 car for the 2011 season in some pictures posted on the team’s official website only minutes before the official debut on the Ricardo Tormo track, in Valencia.

As you can see in the first pictures, the new F1 car developed by the famous engineer Adrian Newey, features the same high nose like all the singleseaters launched so far, but it has at least two major innovations compared to the rival cars: the engine case is significantly longer, while the rear wing has a whole different design. We remind you that this year the driver can adjust the rear wing.

More infos about the technical details will be available later, once Red Bull Racing unveils more photos and after the singleseater will start the testing session in Valencia.

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