Formula 1: Sebastian Vettel Will Leave Ferrari At The End Of 2020 Season

Sebastian Vettel is set to leave Ferrari on the expiration of his contract with the German racing team by the end of the season after both parties could not agree on a new contract.

Despite being in talks for a contract extension for several months, Ferarri and the four-time champion will now go his separate way as the team will sort for his replacement who will pair up with Charles Leclerc.

The Team Principal Mattia Binotto in a statement pointed out that, the outcome of their deal was "not an easy decision" to reach, however, deemed it as the "best" for both parties considering Sebastian worth as a driver.

He added, "There was no specific reason that led to this decision, apart from the common and amicable belief that the time had come to go out separate ways in order to reach our respective objectives."

Sebastian has not won a Formula One championship title in his five years reign with the team which he joined in 2015 from Red Bull - the team that he won all his four titles with.

"My relationship with Scuderia Ferrari will finish at the end of 2020," Sebastian confirmed. "The team and I have realized that there is no longer a common desire to stay together beyond the end of this season."

Last season, Lewis Hamilton was tipped to replace Sebastian should the Brit want to leave Mercedes but his team is willing to keep him at the end of his contract. McLaren's Carlos Sainz could be one to replace Sebastian on his exit from Ferrari.