Radio Station Cadena Cope in its late night show 'El Partido de las 12' (the 12 o'clock game) announced that the Spaniard would rescind his contract with Ferrari at the end of the current season, reports Xinhua.

The main reason for the decision is that 33-year-old Alonso, who was World Champion in 2005 and 2006, is increasingly frustrated by the failure of Ferrari to provide a car which would allow him to compete on equal terms with Mercedes and Red Bull.

Alonso dropped a hint at his dissatisfaction with the team he joined in 2010 Thursday ahead of this weekend's Japanese Grand Prix. He had always previously insisted in his loyalty to the Italian team but when asked about possible offers from other teams, he replied: "If speculation is intensifying, I don't really know the reason. I cannot imagine the reason but I always put the interests of the team and the interests of the Tifosi, this big brand Ferrari that is bigger than any of us, in front of my own interests.

"So if there's some talk in the future and something better for Ferrari, I will do whatever is best. At the moment the thing is to speak on the track and to help Ferrari on the track. About the second priority, my future, we will see," said Alonso, who also stressed that he was in the "best moment of his career" and "hoped to take advantage of that in the coming years".

Should Alonso leave Ferrari, Cadena Cope suggests McLaren as a possible destination, saying that the team would be willing to double what he currently earns with Ferrari.

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