Schumacher wants record eighth F1 title

LONDON (Reuters) - Michael Schumacher targeted an unprecedented eighth Formula One title on Wednesday after Mercedes announced he was coming out of retirement to race for them at the age of 41.

"Having played around with motorbikes, I feel ready for some serious stuff."

Media reports have suggested the German, who won two titles with Benetton and five with Ferrari before retiring at the end of 2006, will earn 7 million euros ($10 million) in an all-German line-up.

"We are talking about a three-year deal, it''s not just a one-off thing," he said of a contract that had been expected to last just one year. "We are looking for continuation."

Mercedes, who have taken over champions Brawn GP, have signed Nico Rosberg as their other driver for 2010. World champion Jenson Button has left the British-based team for McLaren.

A move to Mercedes will reunite Schumacher, who turns 41 in January, with Britain''s Ross Brawn, the technical director who guided him to all his titles and is now team principal.

"It was the only combination that would have triggered it (my return) there was no other combination that I would have liked to have worked for and with," Schumacher told the BBC.

"Ross is a long-term friend and he knows me in detail. We''ve won races together we shouldn''t have won, we''ve had tough times, good times but we managed to finish on a positive attitude. I feel very inspired and really great to deliver something."

FULL CIRCLE

Brawn told reporters that he had approached Schumacher only in late November when contract negotiations with Button hit difficulties.

Wednesday''s announcement will take Schumacher''s career full circle, since the German drove for the Mercedes sportscar team before breaking into Formula One with Jordan in 1991.