Ferrari President, Luca di Montezemolo believes that the chances of seven-time World Champion, Michael Schumacher, extending contract with the Italian team are around 50/50.

Denying reports in the German media that Schumacher has been offered a two-year deal containing a clause which would allow him to retire instantly should he win the title, the Italian told Gazzetta dello Sport: "It's up to him to decide and he knows that if he wants to stay for two years then we will agree. He has to say it, however.

"Having a competitive car helps, but Michael had already realised that," he added, no doubt referring to last week's win at Imola..

"His future depends more on his head than on Ferrari. I think he wants to continue for a year, but not to find himself in five months' time facing the same questions he has now. It would probably suit him to sign for another two years, but he is assessing whether he will still want to race in 2008."

Asked about the speculation as to who might replace the German, or even partner him, de Montezemolo was giving nothing away: "I am of the opinion that one does not have to risk indigestion in life but abundance is always to be preferred. We do not have a driver problem today.

"We will talk to Rossi in the coming weeks to make a decision," he revealed. "With Raikkonen, there is absolutely nothing other than the fact that we believe he is one of the best three (drivers) at the moment."