About contracts...
F1 contracts are curious. A normal contract is like a barbed-wire fence: rigid, inflexible, and damn difficult to get over or out of if you're trapped in it. An F1 contract is like a chain-link fence... made out of spaghetti. It's made up of loopholes and it's so flexible that it could unravel at any time. No one's contract is set in stone. Virtually anyone can be bought, for the right price, that is. But without further ado, let's proceed.
Oh, Ferrari, how I love thee. You make a beautiful car and install beautiful drivers. And as of right now, they're the same beautiful drivers we have this year! Kimi Raikkonen is contracted with Ferrari through 2009. Despite the fact that he seems fated to retire in the near future, he's assured us that he would never consider breaking his contract and quitting at the end of 2008. Hooray, Kimi, for being a man of your word! As for my favorite zesty Brazilian, Felipe Massa, his contract was extended in February through 2010. Which means that provided nothing changes I can walk around dressed like the Brazilian flag every other Sunday until I'm twenty-three!
BMW looks set with their drivers. Nick Heidfeld's contract runs through 2009, which (in theory) means that we should see him zipping around in the F1.09 next year. However, his less than spectacular showing so far this season puts him in the line of fire for future deals. Robert Kubica's contract, on the other hand, expires at the end of this year. Whatever BMW has asked for, Kubica has delivered. He's snagged the team's first pole and first win, and actually has the team in the running for the driver's championship. So why aren't BMW scrambling to resign him in a hurry to prevent him getting snapped up by such interested parties as Ferrari and Renault? Autosport's Jonathon Noble explains all:"Sources close to Kubica have told autosport.com that there is an option in his contract that gives BMW Sauber the automatic right to sign him up for another season."
This option is valid until September and BMW would be supremely foolish not to use it. While there's no rush right now, be assured that Mario Theissen will most likely have to work harder if Ferrari comes calling at the end 2009.
When it comes to McLaren, it's obvious who will be behind the wheel of one of the MP4-24s next year. Yes, you guessed it, it's Lewis Hamilton, who'll be sticking with the team until 2012, bar a cataclysmic fall-out with Ron Dennis. Details on Heikki Kovalainen's contract are unavailable. However, Martin Whitmarsh has commented that the partnership will be "long-term" and since Heikki (albeit having an unremarkable season thus far) has done nothing to disgrace himself, he will most likely be continuing with the team in 2009.
No one fully expected that Toyota would emerge as "the best of the rest" this season, yet that's what they seem to have done. This is good news for Jarno Trulli, whose contract goes "through to 2009." A slightly ambiguous phrase, I can only assume this means he is not contracted past 2008. Trulli has scored 20 of the team's 25 points, managing a podium finish at Magny-Cours. This leaves him well-poised to have to his contract extended. Timo Glock, on the other hand, has reason to fear for his ride. Although his contract ties him to Toyota through 2010, Glock has failed to shine in the first half of the season, with only five points to his name and all but two of his finishes outside the top ten.
In March of 2008, Honda were trying to rope dear Jenson Button into signing a three-year contract extension. Button had threatened to leave the team at the end of his contract in 2008, but Ross Brawn arrived and may or may not have persuaded him to stay. There is no news on the outcome of the negotiations. Rubens Barrichello's contract will expire at the end of this season, but he's eager to stay with the team. His chances of being resigned are decent. Rubens has pulled off a few nice drives and a splendid podium finish last weekend at Silverstone that was the envy of many of driver.
STR's star Sebastian Vettel has been plagued by bad luck in the first half of the season, with five retirements (mostly the result of rogue backmarkers or DC) in the first nine races. However, in the races where he has seen the chequered flag, he's performed well, and this success could very well earn him a promotion into Coulthard's open seat at Red Bull. His contract with Red Bull is a "long-term" agreement, so either way he seems safe. Sebastien Bourdais's future with Toro Rosso, sur l'autre main, is not so secure. Despite having badass glasses, poor Seb is languishing near the bottom of the standings, tied with Nelsinho for 17th place. This proves to be a dangerous position when you have a one-year provisional contract. With only two points (resulting from his 7th place finish in Australia), four retirements (at least two at the first corner), and eight out of nine finishes outside the top ten, Bourdais will undoubtedly be biting his nails post-Brazil.
* More to follow on this.

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