Ecclestone: Rossi has done the right thing

Although F1 would have benefited hugely from the arrival of Rossi, Ecclestone believes that ultimately the decision to stick with bikes was the best thing for the Italian's career.

"He did well by staying in motorbikes," Ecclestone told Gazzetta dello Sport. "F1 would have been a big unknown for him. On two wheels, on the other hand, he can still do plenty."

FIA president Max Mosley said that he was not too worried that F1 had failed to lure Rossi and said he believed there was still a chance it could happen in the future.

"It's not a problem," said Mosley. "He's young and he can come in two or three years' time."

The reaction among drivers about Rossi's decision has been mixed. Some have said they welcome the end of the Rossi speculation, while others believe it is a loss to F1 that he will not be coming on board.

Former world champion Jacques Villeneuve said: "Shame. Vale would have been good for F1. In bikes he's got nothing left to prove."

Rubens Barrichello added: "I'm sorry because I'm convinced he would have become a good driver here too, but certainly not as good as on bikes."