Kimi Raikkonen Keeps Ferrari Seat Through 2016: Official

Kimi Raikkonen will remain a Ferrari driver and partner Sebastian Vettel through the 2016 season, the Italian Formula One team announced Wednesday.

Raikkonen, the 2007 world champion, re-joined Ferrari at the start of the year but mediocre form had led to rumours the Formula One giants were exploring other options.

Ferrari president Sergio Marchionne said earlier in the summer Raikkonen's future lay in his own hands, which was interpreted as a clear signal for the Finn to make improvements amid what has been a mediocre start to his second spell with the Italians.

However on Wednesday Ferrari released a brief statement which said the "technical and racing agreement" they had with Raikkonen was being renewed.

Vettel, who enjoyed a stunning career with Red Bull, currently sits third in the world championship drivers' standings on 160 points, 42 behind Britain's Lewis Hamilton (202).

Hamilton's Mercedes team-mate Nico Rosberg is second on 181, with Raikkonen down in fifth place on only 76 points.