It tends to be a bit thin for Ferrari news at this time of year, so we thought we'd report that Vodafone have agreed to back Ferrari for another two years. The announcement from the Factory was surprisingly terse.

"Maranello, 16th december (sic) - Ferrari announces that it has extended its sponsorship agreement with Vodafone. The agreement now runs to the end of the 2006 racing season."

Not exactly an effusive welcome, especially when you consider that sources have speculated the value of the deal could be around $100m. Last year Jordan GP were ordered to pay £1m in legal costs to Vodafone after losing a court case in which they claimed that the communications giant had reneged on a sponsorship agreement with them, so that must have gone a bit of the way to paying the Ferrari sponsorship.