Germany's Bild has is reporting that Michael Schumacher has signed a one-year deal with the Mercedes F1 team.

7-time World Champion Michael Schumacher has signed a Formula 1 contract with Mercedes-Benz and will be making his much-anticipated comeback to the sport next year, according to German media reports on Tuesday.

Formula 1 legend Michael Schumacher will come out of retirement to race for Mercedes next year, BBC Sport understands.

2010 debutants Campos Meta and US F1 have rejected doubts from Formula 1 commercial rights holder Bernie Ecclestone that they will not make the grid next season. With the two teams making up half of the new outfits in the sport, Englishman Ecclestone holds serious suspicions over their futures.

Ferrari's new simulator was unveiled today at Maranello. The ceremony took place in the structure built to accommodate the new machine, within the Gestione Sportiva, in the presence of Ferrari CEO, Amedeo Felisa and the team principal, Stefano Domenicali.

US F1 boss Peter Windsor refutes Bernie Ecclestone's suggestion that the American team will not make it to the grid next season, insisting that his team's programme is on course.

The Litespeed team has announced that it has become Head of Lotus F1's European Driver Development Programme ahead of the 2010 season. With the 1Malaysia-backed squad set to move into Formula 1, the British outfit will be searching for the most suitable drivers to one day make an F1 debut with the nearby Norfolk-based Lotus.

US F1 insist they will race in Formula 1 in 2010 despite Bernie Ecclestone casting doubt over their participation

Bernie Ecclestone has cast further doubt on F1 hopefuls US F1, claiming that, in his opinion, the American team will not be on the grid next season.

The Williams team is demanding £10m in unpaid sponsorship from collapsed Icelandic bank Glitnir, according to The Daily Telegraph. The claim by the Grove team follows a promise made by the bank last year, which stated that the money would be transferred after Hamleys owned Baugur failed to convey funds.

ITV, the television broadcaster of Formula 1 in the United Kingdom between 1997 and 2008, escaped a fine on Monday after failing to reveal the victor of its penultimate competition of last season. With a prize-winner now informed, the company has been under the scrutiny of media regulator Ofcom.

The German consumer Henkel group has resolved a legal row with Brawn GP over a disputed £80m sponsorship deal.

The disagreement between the Mercedes Grand Prix team and sponsor Henkel has now been rectified, according to the Brackley-based team. The case came to light last Monday, with the newly-owned team seemingly involved in a fraud case over 90 million euros.

Formula Money, the book which reviews Formula 1's financial year in minute detail, has revealed that the sport's revenues suffered a fall of no less than US$200m (£124.6m) in 2009. With the economic recession affecting the sport in the same way as any business, team owner's spending has been hardest hit.

Nelson Piquet Jr. has revealed that he will soon be confirming his agenda ahead of the 2010 season. The Brazilian is yet to race on a full-time basis following his sudden departure from Renault after the Hungarian Grand Prix but insists that arrangements are nearing their end.

If you thought that tickets to the British Grand Prix were already expensive then prepare to think again. According to Pitpass' business editor Chris Sylt the prices of the cheapest tickets are projected to double over the next 17 years.

Prodrive Chairman David Richards believes that the motorsport industry should review its methods of developing technology and the effects generated for transport in general. Having recently been linked with a buyout of the Renault team, Richards is of the opinion that a serious technological overhaul is needed in the sport.