Vettel is out of contract with the Scuderia at the end of this year.
He joined Ferrari in 2015 with the Italian stable hoping that he would be the one to claim their first Drivers’ Championship since Kimi Raikkonen in 2007.
It has yet to happen.
The closest he has come was runner-up in 2017 and again in 2018 while last year he slumped to his worst position in the standings as a Ferrari driver, P5.
It was a season in which Vettel was shown up by his young team-mate Charles Leclerc.
While Leclerc has been signed to a long-term deal, Ferrari has reportedly only offered Vettel a one-year contract for 2021. And it comes with a massive pay cut.
Former F1 supremo Ecclestone reckons the German should turn it down.
According to the Brit, Ferrari is now very much Leclerc’s team especially as he is managed by FIA president Jean Todt’s son, Nicholas.
“I think that Sebastian’s performance has recently suffered under the Ferrari constellation with new team-mate Charles Leclerc, who is also managed by the FIA President’s son,” Ecclestone told F1-Insider.com.
“I suspect he doesn’t see Binotto as the supporter he needs in his situation.
“Sebastian should therefore stop or look for alternatives for 2021.”
One option that the rumour mill suggests could be available to the four-time World Champion is McLaren.
According to speculation the Woking team would consider signing the German if they lost Carlos Sainz.
And where could Sainz be going? Ferrari it has been suggested.
Ecclestone reckons McLaren, especially given their return to Mercedes engines for 2021, is a good option for Vettel.
“McLaren, with Mercedes engines, could be one,” said the 89-year-old.