Ferrari has dismissed reports that its number one driver Fernando Alonso is being paid EUR30 million a year.

It has been reported by Spanish newspaper El Mundo, citing information compiled by Business Book GP, that Alonso is easily the most highly paid driver in F1, currently earning almost the same as Lewis Hamilton and Jenson Button combined [see separate story - HERE], however, in the Scuderia's latest 'The Horse Whisper' blog, that figure was described as 'utter balderdash'.

"This strange 2012 Spring is drawing to a close, but some things never change. Roses bloom in the garden, the smell of jasmine fills the air and, how could it be any different, journalists' thoughts turn to the question of how much sportsmen earn," the blog reads on Ferrari's official website.

"Of course, there's plenty of interest in F1 drivers and, as usual, all sorts of airy-fairy figures are bandied about. Just arrived, but it's surely not the last is something called "Business Book GP 2012." This august publication would have Fernando Alonso earning 30 million Euro per year, or almost the same as the two McLaren drivers put together. A shame then that it's an other case of utter balderdash, that shows once again that those who compile these lists, usually like to quote themselves and each other, like dogs chasing their own tails, always putting Ferrari on top when it comes to money, whether it's referring to driver salaries or budgets.

"Things ain't what they used to be we are told, but, when it comes to money, the song remains the same: Ferrari spends more than anyone.

"A shame then that the reality is very different, as those who work in the business know only too well."

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