Formula 1: Sebastian Vettel signs new Red Bull contract

Reigning Formula 1 world champion Sebastian Vettel has agreed a contract extension with Red Bull, keeping him at the team until the end of 2015. Vettel has been with Red Bull since 2009, getting 29 victories, 39 pole positions, and winning three consecutive world titles since then.

In March 2011, Vettel put pen to paper on a new three-year deal up to and including 2014, with the latest extension adding one more year to his contract. He has won three races so far this season, in Malaysia, Bahrain and last weekend in Canada, and leads the Formula 1 Drivers' Championship with main rival Fernando Alonso 36 points behind him.

Last week Vettel said he considers quitting Formula 1 in five years' time but he made it clear he didn't have a specific timetable in mind. "Perhaps I will no longer be driving in five years' time because I no longer have the urge to," Vettel said. Earlier this year he was linked with a move to Ferrari but the Italian team's president Luca Di Montezemolo said Vettel would not be joining them as long as Alonso was there.

The next Formula 1 race is the British Grand Prix on June 30th, here are the outright odds at Bet365 for the top five favourites:

Sebastian Vettel - 15/8
Fernando Alonso - 11/4
Lewis Hamilton - 13/2
Kimi Raikkonen - 7/1
Mark Webber - 8/1

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