New Ralf Schumacher deal

Williams driver Ralf Schumacher is reportedly on the verge of signing a £60 million deal to drive for Toyota next season in the latest twist to the ongoing saga over the German’s 2005 destiny.

A source close to Schumacher said a five-year contract with the Japanese team has already been drawn up and it includes bonus performance clauses, which could net Ralf an extra £4m.

In contrast, Williams wants to cut Schumacher’s salary from £12m to £3m, also with performance -based bonus money available.