It's that time of the year again, as the Formula One season winds to a close and drivers line up for new contracts. After Ralf Schumacher's departure from the over-funded but under-achieving Toyota F1 team, Felipe Massa was rumored to be heading over while Fernando Alonso assumed his seat at Ferrari. With Alonso now headed back to Renault for next season and Massa likely to stay where he is, Toyota have reportedly signed Timo Glock (right) for next season to race alongside incumbent Jarno Truli.

Glock has floated in and out of F1 for the past few years. After working his way up the ranks and named Rookie of the Year in the Formula 3 Euroseries, Glock moved in to a race seat with Jordan F1 in 2004, scoring his first point in his first race (due to a technicality) at the Canadian Grand Prix in 2004. He then moved across the ocean to Champ Cars, and in his second race at the Montreal circuit scored a second place finish in his first season and was again named Rookie of the Year. Last year he moved to GP2, and took the title this year while simultaneously serving as a test driver for BMW Sauber, but was passed over for the race seat after Robert Kubica's crash... also at the Circuit Gilles Villeneuve in Montreal.

Despite his experience, Glock is evidently still considered a rookie, which means Toyota can get away with paying him "only" $2 million a year in comparison to Ralf Schumacher's purported $19 million annual contract. Glock and Toyota are expected to officially sign after this season's closer in Brazil. Just don't be surprised if his new employers use Timo to promote their new JDM coincidentally-named cellphone, the Timo.

[Source: F1i.com]