Formula 1: Schumacher quick to agree to £35m deal

Michael Schumacher is confident of celebrating his new Ferrari deal by roaring to another triumph in Monaco this weekend.

The 32-year-old yesterday agreed to extend his stay at the Italian team for another two years during which he will reputedly net around £35m.

Reigning world champion Schumacher had been expected to stay at Ferrari once his current contract ended in 2002, the only surprise being the announcement coming so early in the campaign.

"The discussions took place in the same positive atmosphere which has typified our relationship and we soon reached an agreement," said the German, who heads into Sunday’s race with a four-point lead in the championship.

"I have often said before how well I get on here at Ferrari and that for me the Scuderia is like a second family.

"I am very happy to have prolonged my stay by another two years and I hope that this continuation with the team will bring plenty of success."

Schumacher, who has been at Ferrari since 1996, will again be partnered by Rubens Barrichello after the team also quashed speculation about the Brazilian’s future by extending his contract to the end of 2002.

Barrichello’s place had been put in doubt after his public show of annoyance at being ordered to move over for his team-mate at the last race in Austria.

But Ferrari’s move to keep Barrichello will ensure his loyalty in Schumacher’s title dog-fight with McLaren’s David Coulthard and help restore team harmony.

Schumacher, who regained the drivers’ title for Ferrari after a 21-year absence last year, can now concentrate on the battle for this year’s crown.

The Swiss-based racer is looking to extend his advantage by claiming a fifth victory in Monte Carlo which would leave him just one off Ayrton Senna’s record of six wins on the famous street circuit.

"We should be good in Monaco," added Schumacher, who last week gave his public support for Barrichello to continue as his team-mate.

"Traditionally we have been very good there and we have a very good car this year so I see ourselves in the front fighting with McLaren again."

But Coulthard is looking to repeat last year’s maiden victory in what is now his home town as he looks to regain at least a joint share of the championship lead.

"I very much believe I have a good chance of winning the grand prix," said the 30-year-old Scot who has scored points in all six races so far this year.

"Ferrari are still the main rival and maybe have a small advantage over us in qualifying, but we’ll be doing everything we can to try and win this race.

"The reliability of my car has given me the chance to score points and gain confidence and we have built on that."