Michael Schumacher (from top to bottom) at the Australian Grand Prix in 2006; on his way to the F1 title in 2001; with then team mate Felipe Massa at the Bahrain Grand Prix in 2006; and on his way to sealing the 2004 championship crown.

Ferrari has sensationally announced that the legendary seven-time F1 World Champion, Michael Schumacher, will return to Formula One to replace injured Felipe Massa, from Valencia.

A short statement announcing Schumacher's return to the F1 cockpit was issued in Maranello yesterday: "Scuderia Ferrari Marlboro intends to put Michael Schumacher in Felipe Massa's car until the Brazilian driver will be able to race again," the press release read. "Michael Schumacher said he is ready and, over the next few days, will undertake a specific training programme at the end of which confirmation will be given of his participation in the Championship with effect from the European Grand Prix on the 23rd of August."

Schumacher also confirmed the announcement in  statement posted on his website yesterday. "The most important thing first, thank God, is that all news concerning Felipe is positive. I wish him all the very best," said the German, a close friend of Massa, who is now 40 years and seven months old. "I was meeting this afternoon with Stefano Domenicali and Luca di Montezemolo and together we decided that I will prepare myself to take the place of Felipe." He added: "Though it is true that the chapter of Formula One has been completely closed to me for a long time, it is also true that for loyalty reasons to the team I cannot ignore that unfortunate situation. But as the competitor that I am, I also very much look forward to facing this challenge."

Schumacher’s last F1 race was the 2006 Brazilian Grand Prix, in which he finished fourth after a drive that the media at the time described as “utterly breath-taking”, “heroic” and “a performance that sums up his career.” Following his retirement he has been working as an advisor to Ferrari, both in F1 and in the development of new road cars, in particular the Ferrari 430 Scuderia, the Scuderia Spider 16M and, launched just this week, the Ferrari 458 Italia. Away from Ferrari he has been working as an ambassador for UNESCO and a spokesman for driver safety.

Statistically Schumacher is the greatest f1 driver of all time, with the seven F1 World Championship titles including not just the largest number of world titles, but also five consecutive titles, the most race victories, fastest laps, pole positions, points scored and most races won in one season, as well as being the only driver to have a podium finish in every race in one season.

Schumacher’s F1 return will be in the 2009 European Grand Prix, the eleventh race of the season, which will be held on 23 August at Valencia Street Circuit in Spain. This year is only second event on this track, so Schumacher has no racing experience on the 5.419 km track, which has also hosted the GP2 series and the Spanish GT championship. The lap record of 1:38.708 is held by Felipe Massa, who went on to win the 2008 race ahead of Lewis Hamilton and Robert Kubica.

Meanwhile on Wednesday afternoon Ferrari Chairman Luca di Montezemolo flew for the second time into Budapest to meet personally Felipe Massa. In this occasion the Chairman has taken to Felipe the dedications and greetings signed by all employees of the Gestione Sportiva department, starting from Stefano Domenicali. The Chairman also met the family and doctors of the pilot, who further reassured him on the improvement of the state of Felipe’s health.