Rossi is one of Italy's biggest sports stars

Brivio had been quoted in Italian daily Gazzetta dello Sport as saying that Rossi would switch to four wheels after his extended contract expires.

"I certainly did not say that he would be in F1 from 2007," said Brivio.

"From Yamaha's side we hope that he will still be riding for us but I cannot predict Valentino's future."

Brivio added: "I said that we are going to start working on an extension to Valentino's contract and we will be discussing it after (the Italian Grand Prix at) Mugello.

"I was then asked about any plans Valentino might have to drive in Formula One and I said that would be Valentino's decision and it might happen.

"I think it's important to set the record straight."

Rossi has test-driven with the Ferrari F1 team and there has long been speculation that he could eventually take over from Michael Schumacher.

Rossi goes into this weekend's French MotoGP Grand Prix leading the championship as he aims for a fifth successive world title.

The 26-year-old Italian was world champion at 125 cc and 250 cc before moving up to MotoGP where he won his first three world titles with Honda.

He is one of the most sought after sportsmen for major sponsors in Italy where he features in several high-profile advertising campaigns.