Rossi extends Yamaha deal to 2008.

In something of a surprise move, Yamaha has announced that superstar Valentino Rossi has extended his current MotoGP contract until the end of 2008.

The news terminates any speculation that the Italian, whose five-year reign as premier-class champion came to an unexpected end at the hands of Nicky Hayden last season, will switch to rallying or any other form of motorsport at the end of this year - when his previous contract had been due to expire.

'The Doctor', who has won a total of seven world titles in the 125cc, 250cc, 500cc and (990cc) MotoGP classes, turns 28 this month and currently stands third in the all-time grand prix winners list heading into the first year of 800cc racing. Rossi is also one of the most popular and highly paid motor-sportsmen in the world.

"I'm very happy I renewed the contract with Yamaha until the end of 2008 so now I can just concentrate on racing this season," said Rossi, suggesting that the early contract extension was done to avoid the kind of publicity that surrounded his proposed F1 switch during 2006. "I think that last year, when we fought back from what seemed an impossible situation to come so close to taking the title, showed what a fantastic team we are and this is why I want to stay with Yamaha.

"The past three years with Yamaha have been very positive and this is why I am pleased to stay. The atmosphere in our garage is always relaxed and happy and I think that this is something very special and difficult to find," added Valentino, who sensationally left Honda for Yamaha at the end of the 2003 season. "I have great faith in Yamaha and I am very excited about my future and the future of the 800cc bike with them. We are ready to challenge with the new 800cc and now this agreement gives us the chance to launch this challenge for the next two years."

"We are thrilled to confirm that our partnership with Valentino will continue for a fifth year in 2008, and it's especially good to have completed all contract negotiations before the start of the rapidly approaching 2007 racing season. This now leaves Valentino free to concentrate solely on the job in hand - winning back the world championship!" added Lin Jarvis, Managing Director of Yamaha Motor Racing. "The past three years with Valentino have been a huge success for the Yamaha brand worldwide, Valentino is a great champion and there is no doubt in our minds that he remains the best possible person to continue to lead Yamaha's MotoGP effort for the foreseeable future."

"During the last three seasons we have won on our debut with Valentino in 2004, dominated in 2005 and lost in 2006: to extend the contract for a further year at the end of a difficult season like the last one is the greatest demonstration of the trust Valentino has placed in this team," stated Davide Brivio, team director of Yamaha Factory Racing. "This is the great motivation for everyone; Valentino, the engineers, the mechanics, all the staff and, of course, all those who, like me, have lived and continue to live through the victories and the defeats so intensely. We will continue to enjoy ourselves on track and to provide enjoyment for the huge numbers of passionate fans of two-wheeled sport; together we will look forward to the next two seasons with great energy."

Rossi will again ride alongside Texan Colin Edwards this season, but the team's title sponsor is still to be announced - although Fiat is rumoured to be close to concluding an agreement.