Schumacher is Free to Leave Ferrari

So it looks like Michael Schumacher will surely make a comeback to Formula 1 fans - Ferrari chairman Luca di Montezemolo stated on Tuesday that the Italian team will not stand in Schumi's way if he wants to drive for Mercedes GP.

The off-season news is all about Schumacher's return to the sport and we really hope this isn't just a publicity stunt for F1. Schumi is, after all, bound by contract to the Ferrari team as a consultant till the end of 2012. However, di Montezemolo told reporters today that Schumacher's deal is 'not binding'. If Schumacher does shift to Mercedes, he will partner his fellow countryman Nico Rosberg and end his 13-year stint with Ferrari.

"It's clear that, if he decides to take another road, our agreement will no longer be valid - that is logical," explained di Montezemolo. "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," he added.

On a side note, Mercedes (formerly Brawn GP) may face a $100 million slash in their budget in the 2010 season. German consumer products honcho Henkel is claiming that a three-year sponsorship contract with Mercedes in invalid since the contract was signed by a former employee without authorisation. Henkel alleged that they had informed Daimler (the parent company of Mercedes) of the problem back in September. As a result, Henkel sued Brawn GP in November and the legal proceedings are still on.

Henkel was paying through its nose to Brawn, and lack of funds would mean Michael Schumacher won't get what he asks for. According to German dailies, Schumi is having talks of upwards of $40 million with Mercedes to drive for the team. Lets wait and watch.

Michael Schumacher Cancels Formula 1 Return

Per Michael's personal website, "Yesterday evening, I had to inform Ferrari President Luca di Montezemolo and Team Principal Stefano Domenicali that unfortunately I'm not able to step in for Felipe. I really tried everything to make that temporary comeback possible, however, much to my regret it didn't work out. Unfortunately we did not manage to get a grip on the pain in the neck which occurred after the private F1-day in Mugello, even if medically or therapeutically we tried everything possible.

After all the hype surrounding Michael Schumacher’s return to Formula 1 racing to fill in for the injured Felipe Massa, it turns out he actually won’t make it back into the cockpit for Ferrari.

I am disappointed to the core. I am awfully sorry for the guys of Ferrari and for all the fans which crossed fingers for me. I can only repeat that I tried everything that was within my power. All I can do now is to keep my fingers crossed for the whole team for the coming races."

Michael Schumacher seeks test clearance ahead of Ferrari return

Michael Schumacher has been practising in an old Ferrari vehicle. Photograph: Wolfgang Rattay/Reuters

Ferrari have written to the FIA and all its rival teams requesting special dispensation for Michael Schumacher to undertake a day's testing in the team's F60 challenger before his return to Formula One in the European grand prix at Valencia on 23 August.

Regulations forbid any testing during the season apart from strictly controlled straight-line runs to check out aerodynamic development. But it is believed that Ferrari will request on safety grounds that the seven-times world champion – preparing to fill in for the injured Felipe Massa – should be allowed to become acquainted with his new machine before the meeting rather than being pitchforked into the frenzy of Friday's first qualifying session on an unfamiliar Valencia circuit.

Schumacher has spent the past couple of days testing at the Ferrari-owned Mugello circuit near Florence, driving one of the Ferraris in which Kimi Raikkonen won the 2007 world championship, the year after he retired. Driving an old Formula One car does not breach the testing ban, which only applies to the current cars being used by the teams contesting the world championship.

"It's a great thing getting back on the track with an F1 even if this was a car from 2007," he told Ferrari's official website. "After a couple of laps I was able to drive constant lap times and I'm happy with the performance. Now we've got to see how my body and the muscles respond in the next days."