Ferrari announced during the first practice day of this weekend's Monza GP that Kimi Raikkonen's contract has been extended by one year. This mean's he's locked into service with the scuderia until the end of 2010, which is the same time Felipe Massa's contract runs out. Terms of the extension weren't disclosed, but the fact that Ferrari re-signed the Iceman means they aren't nearly as worried about his recent form as the rest of the paddock appears to be. It also means that Fernando Alonso can now decide where he wants to go for at least two years and get the silly season officially over with.

Upsets, upsets and more upsets. The Formula One racing world thought it had put the politics between Ferrari and McLaren to rest, but the controversy between the two front-running teams reared its ugly head once more at this past weekend's Belgian Grand Prix at Spa. Follow the jump to read how the weekend's events unfolded, and how the race results were turned on its head once again.

Click above for high-res gallery of the European Grand Prix

There are many grands prix in Europe, but there is only one European Grand Pix. Although the title was originally awarded as a badge of prestige to one race on the continent each year, over the last quarter century the name has allowed a second round in the Formula One World Championship to be held in a country that already hosts a race under its own name. With the 2008 Spanish Grand Prix already behind us, this year's European Grand Prix was held at the new street course in Valencia, Spain.