Schu’s new $86.6m contract

(GMM) Michael Schumacher now has in his possession a contract to extend his formula one career for Ferrari by two more years.

That is the information of Germany's biggest newspaper, Bild, which wrote on Tuesday that the deal – yet to be signed by the Imola winner – is for a monstrous $86.6 million.

'Bild' added that 37-year-old Schumacher's new contract contains a 'world champion clause', meaning that he can quit at any time if he lifts an eighth title, including in 2006.

The newspaper suggested that a decision at the Nurburgring, scene of the next grand prix early next month, is possible.

''Michael is still the best formula one pilot there ever was,'' Ferrari president Luca di Montezemolo told the German 'sid' news agency.

''I hope he remains loyal to us.''