Today Ferrari has announced a three year deal starting next season with 2005 and 2006 World Champion Fernando Alonso. The confirmation of the agreement from the Italian team has been widely expected for several weeks.  The most successful active driver in F1, Alonso allegedly signed his Ferrari contract as long ago as July 2008, according to sources close to the team.

Kimi Raikkonen, although his contract covered the 2010 season, will no longer be a Ferrari driver.

“The Scuderia’s driver line-up next season will therefore be made up of Felipe Massa and Fernando Alonso, with Giancarlo Fisichella in the role of reserve driver,” Ferrari’s statement reads.

“Kimi Raikkonen will leave the team at the end of this current season, after what has been a rewarding and fruitful partnership, which saw him win the Drivers’ title in 2007. He also played a key role in Ferrari’s taking of the Constructor’s title that same year and in 2008.”

Ferrari was obviously very keen to bring 28-year-old Spaniard Alonso aboard, as it has long been obvious that both parties hold mutual interest.  ”We are very proud to welcome to our team another winning driver, who has demonstrated his amazing talent by winning two World Championships in his career to date,” said Team principal Stefano Domenicali.

“Of course, we wish to thank Kimi for everything he has done during his time with Ferrari: in his first year with us, he managed to win the Drivers’ title, thus making his contribution to Ferrari’s history and he played a vital role in our taking of the Constructors’ title in 2007 and 2008,” Domenicali continued, also pointing out Raikkonen’s victory in Belgium this year in what is a difficult season for the team.

“With common consent, we have agreed to terminate the contract binding me to Ferrari to the end of 2010, one year ahead of schedule,” said Raikkonen. “I am very sad to be leaving a team with which I have spent three fantastic years, during which time I won plenty of races. Together, we have won 50% of the world titles in that period and I managed to take the Drivers’ title in 2007, thus achieving the target I had set myself at the start of my career.

“I have always felt at home with everyone here and I will have many happy memories of my time with the team,” the 2007 champion concluded.  Raikkonen will complete the three remaining races of the season with Ferrari. It is rumored the Finn may return to McLaren Mercedes.

The announcement of Fernando Alonso’s move to Ferrari should now open the vanes of the drivers’ market, with a cascade effect leading to further driver confirmations from other teams in the coming days and weeks.

USF1blog.com recently took an in-depth look at the 2010 drivers market, and we are now hearing that Kimi Raikkonen has signed a preliminary “outline agreement” to kick off a second tenure with McLaren beginning next season.  The Mirror cited “paddock sources” in claiming that Raikkonen is prepared to vacate his contracted Ferrari seat in 2010, but only if the Italian outfit pays his salary. It is estimated that Raikkonen’s 2010 Ferrari contract is valued at nearly $49m.

The 29-year-old Finn, who raced with the woking based outfit between 2002 and 2006, must first reach an agreement with Ferrari, with whom he is under contract for one more season.

The report also said the news ties in with Nico Rosberg’s link with Brawn and the Brackley team’s burgeoning relationship with Mercedes-Benz.

Mercedes was said to be pushing for Rosberg to replace Heikki Kovalainen at McLaren, but may now have resolved to push the German driver to Brawn and increase its involvement with Ross Brawn’s team.

This of means, of course, that the fate of Barrichello and Kovalainen are still up in the air for next season.

McLaren lock out the front row as Heikki Kovalainen drives for job security. Look for Sebastian Vettel in 5th and Jenson Button in 6th to shake things up a few places off the lead as they fight for championship points.