Apparently, the long-rumored Fernando Alonso to Ferrari announcement is now all but official. According to a report from the BBC, the 28-year-old driver has signed a two-year contract with options to extend that will earn the Spaniard a tidy salary of roughly 19 to 25 million euros ($27 to $36 million) per year.

An official announcement could come as early as this weekend at the Suzuka Grand Prix in Japan. As expected, Alonso will be paired up with current Ferrari driver Felipe Massa, whose spot is currently being filled in by Giancarlo Fisichella while the Brazilian is recovering from injuries sustained during qualifying for the Hungarian Grand Prix.

Kimi Raikkonen could possibly make the move back to McLaren, and current BMW Sauber driver Robert Kubica is rumored to be taking Alonso's place at Renault. Tune back in tomorrow for another installation of How the F1 World Turns... Tip of the hat to Cheech McGovern!

[Source: BBC | Image: ph-stop - CC 2.0]