$50m Fiat deal to re-fire Rossi rumors

Valentino Rossi will be sponsored by Ferrari's parent company in MotoGP this year, but the Italian denies that it means he might still switch to F1.

The publication Motorcycle News has confirmed rumors of Yamaha's nearly $50m deal with Fiat, but Rossi insists that he recently decided against quitting two wheels.

He tested extensively for Ferrari last year but recently signed a new contract to stay on a Yamaha bike until 2008.

"My future is just rumors, and not linked with the sponsor," 27-year-old Rossi said.