Ferrari has announced it will open a special exhibition dedicated to Michael Schumacher at its museum in January to mark the seven-time Formula 1 world champion's 50th birthday.

Schumacher won five of his seven F1 world titles racing for Ferrari between 1996 and 2006, playing a central role to the Italian marque's domination of the sport in the early 2000s.

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Schumacher's career and success with Ferrari will be celebrated in the new exhibition at the Ferrari Museum in Maranello, opening on January 3, which will be Schumacher's 50th birthday.

"It is intended both as a celebration and a mark of gratitude to the most successful Prancing Horse driver ever," a statement from Ferrari reads.

"The Museum’s rooms will look back over the memorable seasons that the seven-time World Champion gifted to all Ferraristi, and that created a legend now bigger than ever in the hearts of all fans.

"The exhibition will also show Michael's crucial contribution to the development of extraordinary GT cars in his years at Maranello, as a driver and later as a consultant."

The exhibition will remain open for a few months, and is being launched in conjunction with the Keep Fighting Foundation that was set up in the wake of Schumacher's skiing accident in December 2013 that left him with severe head injuries.

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