Ferrari's Formula One world champion Michael Schumacher, who has just extended his contract with the Italian team until 2006, will retire the same year, his manager Willi Weber said.

"I presume that the end of 2006 will be the end of his Formula One career," Weber told the German sports agency SID on Tuesday.

"That January Michael will be 38 years old. He can then say serenely: that was my Formula One career."

Weber said that the five-time world champion had not discussed what he would like to do when his racing career was over, adding that the new contract had exactly the same conditions as the previous one.

"There was neither a raise or a drop in salary. The sporting aspect was more important to Michael than money," said Weber.