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Ferrari have insisted they will not prevent Michael Schumacher making a Formula One return with another team.
The seven-time world champion has been a consultant for Ferrari since retiring in 2006 and said recently he would continue for another three years.
But the 40-year-old has been linked with a move to Mercedes and Ferrari president Luca di Montezemolo said Schumacher's role was "not binding".
He added: "If he takes another road our agreement will no longer be valid."
Schumacher was on the brink of a racing return with Ferrari in August to deputise for the injured Felipe Massa.
Those plans were abandoned following medical checks on a neck injury Schumacher suffered in a motorcycle accident earlier this year that caused him pain during testing.
ANDREW BENSON BLOG
My information is increasingly that Schumacher's return as Nico Rosberg's team-mate is looking like a done deal
With that neck problem now understood to be fully healed, Schumacher is thought to be close to completing a sensational return to the sport with the German giants Mercedes, who have taken over world champions Brawn.
"You can't work with a competitor and with us at the same time," Montezemolo said.
"I still haven't spoken to him about it. He is only a dear friend, not a team member. He is a consultant for our road cars."
Schumacher agreed a new role with Ferrari over the summer as an ambassador, consultant and test driver for the company's road cars which removed him from any links with the F1 team.
Mercedes are understood to want the seven-time world champion to re-launch their return to F1 in sensational style.
Nico Rosberg has already been signed up but the team's second driver has yet to be confirmed.
German newspaper Bild reported that Schumacher, who turns 41 in January, had already agreed a deal, thought to be worth 7m euros, with Mercedes in principle.
Rosberg has welcomed the prospect of Schumacher joining him at Mercedes, saying: "I hope that my team mate will be sorted out pretty soon and at the moment the rumours are very strong for Michael Schumacher.
"I have no idea if it is true or not but obviously if he would join that would be an absolutely fantastic move."
The seven-time world champion has been a consultant for Ferrari since retiring in 2006 and said recently he would continue for another three years.
But the 40-year-old has been linked with a move to Mercedes and Ferrari president Luca di Montezemolo said Schumacher's role was "not binding".
He added: "If he takes another road our agreement will no longer be valid."
Schumacher was on the brink of a racing return with Ferrari in August to deputise for the injured Felipe Massa.
Those plans were abandoned following medical checks on a neck injury Schumacher suffered in a motorcycle accident earlier this year that caused him pain during testing.
ANDREW BENSON BLOG
My information is increasingly that Schumacher's return as Nico Rosberg's team-mate is looking like a done deal
With that neck problem now understood to be fully healed, Schumacher is thought to be close to completing a sensational return to the sport with the German giants Mercedes, who have taken over world champions Brawn.
"You can't work with a competitor and with us at the same time," Montezemolo said.
"I still haven't spoken to him about it. He is only a dear friend, not a team member. He is a consultant for our road cars."
Schumacher agreed a new role with Ferrari over the summer as an ambassador, consultant and test driver for the company's road cars which removed him from any links with the F1 team.
Mercedes are understood to want the seven-time world champion to re-launch their return to F1 in sensational style.
Nico Rosberg has already been signed up but the team's second driver has yet to be confirmed.
German newspaper Bild reported that Schumacher, who turns 41 in January, had already agreed a deal, thought to be worth 7m euros, with Mercedes in principle.
Rosberg has welcomed the prospect of Schumacher joining him at Mercedes, saying: "I hope that my team mate will be sorted out pretty soon and at the moment the rumours are very strong for Michael Schumacher.
"I have no idea if it is true or not but obviously if he would join that would be an absolutely fantastic move."
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