Toyota will not reach a deal with Kimi Raikkonen for the 2010 season unless he drops his exorbitant pay demands, team president John Howett insists.

The Cologne based team has made Finn Raikkonen, 30, an offer, Briton Howett revealed last weekend in Brazil.

"He gave us back a figure that is much too high," he is quoted as saying by the Swiss publication Motorsport Aktuell.

"He says he has two options, so we are going to wait," Howett added.

It is believed that Raikkonen will receive about 25 million euros from Ferrari for agreeing to end his 2010 contract, while his management is asking about the same amount from both McLaren and Toyota.