Ferrari president Luca di Montezemolo believes reigning MotoGP star Valentino Rossi would not only be competitive in F1 - but a potential world champion.

The Italian superstar once again set an impressive pace during his latest Ferrari F1 test, which was labeled as a reward for winning his ninth two-wheeled title.

During the two-day test, aboard a two-year-old Ferrari F2008 at the Circuit de Catalunya, Rossi set a best lap time two tenths of a second shy of the lap record, set by former Ferrari driver Kimi Raikkonen, and only a tenth away from the Finn's 2008 Spanish Grand Prix pole position time.

It marked the latest in a series of high-profile flirtations with F1 but Rossi, whose Yamaha MotoGP contract expires at the end of this year, continues to play down talk of an F1 switch - saying that he would be too old.

However, according to Reuters, di Montezemolo would not only be prepared to place Rossi in a third Ferrari F1 car, should the rules be changed, but 'did not rule out Rossi racing in one of their two cars currently occupied by Fernando Alonso and Felipe Massa'.

"Valentino is a potential champion in Formula One," Reuters quotes di Montezemolo as saying.

Rossi is 30-years-old, which is eleven years younger than former Ferrari world champion, and 2010 F1 returnee, Michael Schumacher.

John Surtees is presently the only person to have world championships in both two and four-wheeled grand prix racing.

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