Ferrari extends Raikkonen's contract for 2018

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Scuderia Ferrari has renewed Kimi Raikkonen's contract for 2018, the company announced on Tuesday.

It was predicted earlier this month that the Italian outfit would likely extend its collaboration with the Finn for a fifth consecutive season.

Earlier in the season, Ferrari president Sergio Marchionne urged Raikkonen to improve his performance and while the 37-year-old has yet to win a race this year, he has upped his game.

Ferrari and Vettel at loggerheads over contract duration?

It was rumored that Sebastian Vettel requested that Raikkonen remain at Maranello in 2018 as a condition for the German to extend his own contract.

Today's news could be the prelude to a forthcoming announcement confirming Vettel's signing for next season.

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Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.