La Gazzetta dello Sport have reported that Vettel has rejected a contract offer from Ferrari, the offer rumoured to have included a heavy pay cut.
The reports says that Vettel, who it is believed is seeking a three-year deal, called the offer a 'joke'.
In a recent media conference call, Vettel said that any deal would have to work for both himself and the team.
“Whatever the deal will be like, it will be whatever I and the team will be comfortable with," said Vettel. "So in terms of duration, I don’t know. Normally the contracts I’ve had in the past were all three-year deals. I know I’m one of the more experienced drivers in Formula 1 but I’m not the oldest and I don’t think there’s an age limit in this regard.”
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