Mike Stevens | Oct 2, 2009

FORMER WORLD CHAMPION Kimi Raikkonen has revealed he is considering the possibility of quitting Formula 1 after his contract was terminated by Ferrari.

Raikkonen will be replaced by Fernando Alonso next season after Ferrari negotiated a buy-out of the final year of his mammoth $US50 million per annum contract.

While Raikkonen has been linked with a switch t o McLaren, the Finn said he remains undecided over the future direction of his career.

"So far I have not talked too much about what I will do next, as I still have time to make my decision and I will let you know when I have," he said.

"For the moment, I haven't decided what I want to do next, whether I want to continue racing or not. I had a contract for next year, but now I don't, so that changes things. So maybe I race, maybe I do not."

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Following his short lived foray into the World Rally Championship at Rally Finland in July/August, rumours emerged suggesting Raikkonen would consider a full-time switch next season.

The 29-year-old further fuelled those claims yesterday, suggesting a potential move to rallying is under consideration, and a 50-50 proposition.

“Yes, there's a chance to do that, but there's as much of a chance that I continue in Formula 1,” he said.

“I will decide before the start of next year for sure. If I do decide to stay in Formula 1, I wouldn't go to any of the small teams, where I would not have the chance to fight for the championship.”

After winning the drivers’ title during his debut season at Maranello, Raikkonen’s relationship with Ferrari began to fray, with reports from Italy suggesting a growing frustration at his seemingly blasé attitude and poor 2008 season.

Indeed, Raikkonen only managed to win an additional three races in the two seasons following his triumphant 2007 campaign, compared to Felipe Massa’s six.

However, Raikkonen hinted the reason behind his axing was largely a commercial decision, influenced by the arrival of Spanish bank Santander as a major sponsor at Ferrari.

“There are many reasons. In F1 there is always a lot of money and there can always be different options. That’s what happened in the end. It’s nothing to do with racing or what I do in the team,” he said.

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