Seven-time Formula One champion Michael Schumacher of Germany arrived in Venice, Italy on Wednesday (September 6) to open a new Ferrari store as rumours abound he will shortly announce his retirement. Schumacher arrived by gondola at the lagoon-city's famous St. Mark's square along with fellow driver Brazilian Felipe Massa and walked to the new store for the inauguration ceremony. A German newspaper reported on Wednesday that Ferrari's number one driver would announce his retirement on Sunday (September 10) at the Italian Grand Prix in Monza. The German driver holds every major record in Forumla One racing but is currently trailing reigning Formula One champion Renault driver Fernando Alonso of Spain by 12 points. Although he did not comment about any possible announcement this weekend, he was happy to talk about this weekend's race where he will be hoping to gain ground on Alonso. "This weekend is going to be crucial because we are just 12 points behind and we want, we must be better than them," said Schumacher after the opening ceremony for the Ferrari store. Schumi, as he is known by his fans, has always said he would like to quit while at the top of his profession. His contract with Ferrari will expire at the end of this season.