Vettel replaces Speed

Toro Rosso have confirmed that Sebastien Vettel, newly transferred from the BMW-Sauber team, will be racing at the Hungarian Grand Prix, replacing American driver Scott Speed. It is reported that Vettel will earn around $165,000 for finishing the season with the Toro Rosso team. It is also thought he has managed to negotiate a $400,000 a year deal for the 2008 season.

“For me, this is a dream come true,” Vettel said. “It hasn t sunk in yet that I am now a proper race driver in Formula 1. I am aware that the car is not the best one, so I can t really say what I will be able to do with it.”

Speed, however, has not been released from his contract. So far, he has yet to pass comment in the media about being dropped from the team. His manager, Glen Hinshaw, has said confirmed that Speed has not been released from his contract and that further details regarding the team and driver s ongoing relationship will be released after Sunday s race in Hungary.

The news will not be welcome to Sebastien Bourdais who many had linked to Toro Rosso as a possible replacement for Speed for 2008. “As of right now, I m trying to pursue everything I can in the F1 World and we should have some news pretty soon,” Bourdais explained.  It seems that Bourdais only chance with the STR team is if they decide to drop Tonio Liuzzi at the end of the season.