Fernando Alonso Set to Return to Renault in 2008?

Fernando Alonso has reportedly signed a letter of intent to rejoin Renault in 2008, with his exit strategy and contract to be worked out soon.

The Spaniard who is currently driving for Ron Dennis' Mclaren team, is still under contract with Mclaren till 2008, with the option of continuing in 2009. However, his bad blood with team principal Ron Dennis and teammate Lewis Hamilton have quashed any hope of him remaining in the Mclaren outfit next year, with his latest accusation of the team over-inflating his tires on purpose during the Chinese Grand Prix qualifying session so that advantage can be given to his teammate Hamilton.

Toyota, desperate for a good break, has also indicated their interest in the current world champion by offering him "(US) $150 million for a three year deal; a comparable amount of money to that earned by Michael Schumacher at Ferrari towards the end of his illustrious career" as reported by F1-Live.

However, given the promise of the number one status in the Renault team, as well as an enticing 3-year contract and as escape route, Fernando Alonso is more likely to be joining Renault, where he won 2 world championship titles in seasons 2005 and 2006.

Ralf Schumacher Set to Leave Toyota

Yet another of the worst-kept secrets of this crazy F1 season has been confirmed by the man himself - Ralf Schumacher, after 3 years of less-than-impressive performance, has decided to part ways with the Toyota team.

He has yet to announce where he is headed next, with no team having explicitly expressed their interest in the German driver. Ralf said that he would announce his plans at the end of this season, and has also mentioned that money will not be an important factor in his new job search.

Meanwhile, the Toyota team would be on the lookout for a new driver to replace Ralf. Nico Rosberg, from the Williams-Toyota team, looks to be a prospective candidate, but Toyota would face a fierce competition from Mclaren and any other team eager to land their hands on this rising star who has proven himself worthy (and pipped to be as good as Lewis Hamilton by team boss Sir Frank Williams) more than often this season.

But of course, now everyone will hold their breaths to see what reigning world champion (soon we probably wouldn't be using it on him anymore)Fernando Alonso would do. Renault has supposedly offered him a contract with a likely promise of the Number 1 status in the team (and probably partnering Heikki Kovalainen). If Fernando Alonso choose to take that, Renault would have to buy out the remaining 2 years of his contract with Mclaren, and Giancarlo Fisichella could be left without a job and Mclaren would be looking for a partner for Lewis.

It's all one big driver-movement circus.

Alonso to Ferrari, Massa to Toyota?

As the season nears its end, the usual speculation in the drivers' market is at full force. The latest rumour, sparked by a report on British's News of the World, Fernando Alonso, the disgruntled Mclaren driver, is said to have already negotiated a contract with Scuderia Ferrari for the next season. One thing for sure - Fernando Alonso is not likely to be staying in Mclaren. But a move to Ferrari and a partnership with the Iceman Kimi Raikkonen? Definitely this would result in a lot of sparks off and on the track as we all know beyond the Iceman façade, Kimi is not one to mince his words.

But to make way for the Spaniard, rumour has it that Ferrari's current driver Massa will be making a move to the Toyota team. According to the Daily Mail, Massa has already been engaged in preliminary talk with the Japanese team. Toyota has been reportedly fed up with the underperforming Ralf Schumacher, so they would definitely be on the lookout for a new driver. Massa, on the other hand, could possibly be worried about his peril position after Jean Todt's possible retirement at the end of this season for the return of Ross Brawn. Massa, who is currently managed by Jean Todt's son Nicholas, could find himself in unfavourable position if and when Ross Brawn takes over.