Ferrari: Schumacher deal 'not binding'

Reports in Germany over the weekend suggested that Mercedes was on the brink of securing Schumacher for its new factory F1 programme next season, in a sensational move that would bring the seven times world champion back into the sport three years after he retired.

Schumacher has been with Ferrari since 1996 and stayed on as a consultant and occasional test driver after his F1 career ended.

Although he intended to make a comeback this summer to deputise for Felipe Massa at Ferrari, a lingering neck injury prevented this. He was set to remain with Ferrari to work mainly with its road car division, but rumours of a Mercedes F1 deal threw this agreement into doubt.

When asked by Reuters if Ferrari would insist that Schumacher kept to his deal, di Montezemolo replied: "No, not binding."

The Italian added that Schumacher would have to split from Ferrari if he wanted to race for a rival company, but said there had been no approach from the German yet.

"It's clear that if he decides to take another road our agreement will no longer be valid, that is logical," di Montezemolo told the news agency. "You can't work with a competitor and with us at the same time.

"I still haven't spoken to him about it. He is only a dear friend, not a team member. He is a consultant for our road cars."

The German media has predicted that a Schumacher-Mercedes deal could be announced as early as this week. Mercedes has already signed Nico Rosberg for its other car.