Despite losing his factory Yamaha seat to Fabio Quartararo for 2021, MotoGP legend Valentino Rossi wil🔜l still only decide on his racing future by the middle of 2020.

The 40-year-old – who has claimed a record💮 89 race wins and seven of world titles in the premier 500cc/MotoGP class - has been without a victory since 2017 and suffered his worst Yam✨aha season with seventh overall last year.

Yesterday's contract extension for team-mate Maverick Vinales turned the spotlight o💃n Rossi's future, with satellite Yamah🔥a ace Quartararo long tipped to join the official team in 2021.

Th🌟at deal has now been confirmed, but💟 Rossi - the most famous motorcycle racer of all time, with legions of fans still dominating the grandstands worldwide - says he is not yet ready to make a decision on whether to extend his illustrious career.

The Doctor's main options are either retirement or a switch to the satellite Petronas Yamaha team, 🔯although it's also possible that a new 'VR46' Yamaha entry could be created for 𝐆him.

'Should Rossi decide to continue as a MotoGP rider in 2021, Yamaha assures Rossi of the availability of a Factory-spec YZR-M1 bike and full Yamaha Motor Co., Ltd. engineer☂ing support,' said a Yamaha statement.

"For reasons dictated by th👍e riders‘ market, Yamaha asked me at the beginning of the year to make a decision regarding my future," explained Rossi, a nine-time world champion and♍ winner of 115 grands prix in all classes since his 1996 debut.

"Consistent with what I said during the last season, I confirmeꦆd that I didn't want to rush any decision and needed more time. Yamaha has acted accordingly and concluded the ongoin💫g negotiations.

"It is clear that after the last technical changes and with the arrival of my new crew chief, my fi🐭rst goal is to be competitive this year and to c🌳ontinue my career as a MotoGP rider also in 2021.

"Before doing so, I need to have some answers that only the❀ track and the first few races can give me.

"I‘m happy that, should I decide toꦓ continue, Yamaha is ready to support me in all resp🅷ects, giving me a factory-spec bike and a factory contract.

"In the first tests I will do my best to do a good job together with my team and be read✃y for the start of the season."

Yamaha Racing managing direc🌞tor Lin Jarvis, who helped sign Rossi to the then-struggling Yamaha project&꧂nbsp;back in 2004, added:

"The totally understandable decision of Valentino to assess his competitiveness in 2020 before making any decision about⭕ 2021 was something that Yamaha respects and also wholeheartedly agrees to.

" While we have total respect for and confidence in Valentino‘s abilities and speed for the 2020 championshꩲip - at the same time Yamaha also have to plan for the future. These days, with six motorcycle manufacturers in the MotoGP class, fast young talents are greatly in demand, and consequ🌊ently the riders‘ market begins ever earlier.

"So, it‘s a weird senꦓsation to start a season knowing that Vale will not be in the Factory Team in 2021, but Yamaha will still be there for Valentino, whatever he may decide for the future.

"If he feels confident and continues to race, we will provide a Factory-spec YZR-M1 bike and full engineering support. If he decides to retire, we will continue𒐪 and expand our collaborations off track with the young riders‘ training programmes of the Riders Academy and the Yamaha VR46 Master Camp, and with him as a Yamaha brand ambassador. 

"Anyway, that is all speculation – right now we have a full season ahead of us and I can assure the fans that Valentino will have our 100% support every day until he even𝓡tually one day decides to hang up his leathers!"

Rossi, 41 next month, will begin pre-season testing for his 25th grand pr🔜ix season at Sepang from February 7-9.

The Italian began his premier-class career on a factory-backed satellite Honda🎃 in 2000, but has ridden only for▨ official factory teams (Honda, Yamaha and Ducati) ever since.