Scuderia Ferrari is the name for the Gestione Sportiva, the division of the Ferrari automobile company concerned with racing. Though the Scuderia and Ferrari Corse Clienti continue to manage the racing activities of numerous Ferrari customers and private teams, Ferrari's racing division has completely devoted its attention and funding to its Formula One team, Scuderia Ferrari. Scuderia Ferrari was founded in 1929, and raced for Alfa Romeo until 1939. Ferrari first competed in F1 in 1948 (the team's first F1 car was the Tipo 125 F1), making it the oldest and arguably the most successful team left in the championship. The team's current drivers are Felipe Massa and Kimi Räikkönen, who has signed on to Ferrari for a three-year contract with the retirement of Michael Schumacher after the 2006 season. The team principal is Jean Todt.