Seven-time world champion Michael Schumacher said Wednesday he plans to race with Mercedes GP until past his three-year contract which expires in 2012.

The 41-year-old signed a contract to race for the German Formula One team last December, but with an eighth world title now in his sights, Schumacher says he has no intention of limiting his racing.

"The great thing about Mercedes is that they have given me the possibility to attempt further success, but that doesn't have to be it after the three years," Schumacher told German daily newspaper Bild.

"The current contract was not my idea, it came from the team and I see it as a mark of confidence in me."

Schumacher admitted it was the influence of Mercedes Team Principal Ross Brawn which finally persuaded him to join the German team.

"Ross called me and we were immediately united, I wasn't really interested in making money, but more about having fun again," said Schumacher, who had Brawn in his pits for each of his seven world title victories.

"I just wanted to sit in a Formula One car again."

Schumacher said Brawn had tried to tempt him back several times since his retirement from racing in 2006 after the pair worked together at first Benetton and then later at Ferrari.

"He (Brawn) asked me two years ago to get involved and again a year ago, but I wasn't ready to return," said Schumacher.

Alongside his Mercedes team-mate Nico Rosberg, Schumacher says he does not expect immediate success, but an eighth title is in his sights.

"I won't just be driving behind him (Rosberg), that is for sure," grinned Schumacher.

"It would be a bit over optimistic to say I can become world champion again in the first year, but it is the eventual aim."

Having turned 41 at the start of January, Schumacher is 17 years older than Rosberg and the old Formula One master is looking forward to helping the rising star.

"Mercedes is the best choice for him, in my eyes," said Schumacher of Rosberg.

"He is a young hotspur who is full of talent and is clearly on the rise, perhaps he just needs a bit of experience."

Having won five of his world titles with Ferrari, Schumacher said he will have no divided loyalties to his old team when the Formula One season begins at Bahrain on March 14.

"A part of my heart will always remains red," said Schumacher.

"I cannot forget Ferrari overnight and I do not plan it to be like this."