Kimi Raikkonen signs one-year deal with Ferrari

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Bengaluru, August 22: Ferrari have confirmed that Kimi Raikkonen will race for them in 2018, with the Finnish driver agreeing a one-year contract extension.

It is the third successive year that Raikkonen has signed on for a single season with the Scuderia, though there is still no official confirmation regarding team-mate's Sebastian Vettel's new deal, reports skysports.com

Vettel's current contract expires at the end of this season, but Raikkonen's renewal is another sign of stability at a much-improved Ferrari team for 2017.

"Ferrari announces that Scuderia Ferrari has renewed its technical and racing agreement with Kimi Raikkonen," a team statement read. "The Finnish driver will therefore race for the Maranello team in the 2018 Formula One World Championship."

Their retention also seemingly closes door for former Scuderia driver Fernando Alonso, who is actively seeking a competitive drive for 2018. Sergio Perez of Force India and Haas' Romain Grosjean had also been linked with Raikkonen's seat.

Raikkonen, who won Ferrari's last Drivers' Championship 10 years ago, began his second stint with the team in 2014 but has failed to secure a race victory since then, partnering Alonso for a year before Vettel's signature.