The Ferrari Formula One team confirmed that they will retain Kimi Raikkonen for the 2018 season.

Raikkonen had a contract with the Scuderia till the end of the 2017 and speculation of his future at Ferrari came into question. His relatively lukewarm performances at the beginning of the season got the rumors about his future at Ferrari started quite early in the season.

“Ferrari N.V. (NYSE/MTA: RACE) announces that Scuderia Ferrari has renewed its technical and racing agreement with Kimi Raikkonen,” said the team in a statement.

“The Finnish driver will therefore race for the Maranello team in the 2018 Formula One World Championship.”

It is expected that Ferrari will announce a contract extension for Sebastian Vettel soon.

Photo credit: Scuderia Ferrari Formula One