Autoblog

UPDATE: Official press release from Renault confirming Alonso's return can be read after the jump.

Emerging reports confirm that Fernando Alonso has signed a two-year contract with the Renault F1 Team, with which he won a pair of world titles before defecting to a tumultuous and disappointing year with McLaren.

The contract, according to Spanish newspaper El Mundo, will make Alonso one of the top-paid drivers currently in F1 at a staggering $50 million per season (According to the Wikipedia, Kimi Räikkönen makes $51 million/year). The deal is also reported to include minimal obligations towards Renault's sponsors, an exit clause should Alonso wish to terminate early, and clear, defined #1 status for Alonso over his team-mate.

That role, according to the reports, is set to be taken up by Nelson Piquet, Jr., who will be filling the #2 spot at Renault. The news subsequently leaves current drivers Giancarlo Fisichella and Heikki Kovalainen without confirmed rides for next season, fuelling speculation that Kovalainen could take up Alonso's now-vacant seat at McLaren, especially since news broke of Nico Rosberg's renewal at Williams.

The official announcement from Renault is anticipated shortly, and Alonso is expected to begin testing next year's Renault car at his native Spain's Valencia test track late in January.

[Source: F1-Live.com]

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]

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Under its new ownership, Aston Martin continues to forge ahead into a brighter independent future. In addition to the production announcement of the Rapide and the rumors of an upcoming "DBX", Aston is not missing a beat on its racing agenda, which should come as no surprise considering the background of its new chairman, David Richards.

To headline its Le Mans endurance racing program, Richards has brought in a big-name former F1 driver. Johnny Herbert, who in his eleven-year Formula One career drove for the likes of Benetton, Lotus, Sauber and Jaguar, will be driving the Aston Martin DBR9 for the Prodrive-run team at this year's 24 Hours of Le Mans. Herbert is no stranger to endurance racing, having won the race for Mazda in 1991 and having driven the dominating MC12 for the Maserati factory team and Audis for customer teams, before briefly returning to the F1 paddock as Jordan/Midland's sporting relations manager. Richards withdrew Aston from the American Le Mans Series for this season, so they'll only be competing in the title race at Le Mans, leaving Herbert with enough time to consider other possibilities, including the Grand Prix Masters. (Aston also announced a new sponsorship deal with luxury hotel chain InterContinental.)

Recruiting Herbert, however, is about as close as Aston Martin will be getting to Formula One anytime soon. David Richards quelled any speculation that the Aston Martin name would be linked to his upcoming re-entry into F1 with Prodrive. Likely taking a page from former corporate cousin Jaguar's unfortunate experience in F1, Richards has wisely decided to leave Aston out of his grand prix venture rather than risk dragging its valuable name through the mud.

[Source: Aston Martin]