Report: Vettel turns down Ferrari renewal offer

Per La Gazetta dello Sport, the Scuderia offered Vettel a one-year, €12 million extension to his current expiring contract, which is believed to pay him upwards of €40m annually.

The report states that Vettel rejected the terms in the hope he can secure at least a two-year deal, at his current yearly salary.

With Ferrari having committed to a five-year extension with his teammate Charles Leclerc at the end of 2019, much has been made of Vettel's future at Maranello, with speculation centering around his loss of "number-one" status and how that could affect what the team is willing to pay him.

Additionally, the Scuderia are believed to have a three-man list of acceptable replacements already lined-up should they be unable to reach an agreement with the German, featuring Renault's Daniel Ricciardo, McLaren's Carlos Sainz, and Alfa Romeo's Antonio Giovinazzi.

Nevertheless, Vettel said as recently as Friday that there was a "high chance" he would have a new deal soon, but that might not be the case if the two sides remain so far apart.