LONDON, April 29: The chances of Michael Schumacher extending his Ferrari contract after the end of the season are 50-50, according to Ferrari president Luca di Montezemolo.

Montezemolo told Italy's Gazzetta dello Sport newspaper in an interview published on Saturday that he expected the seven times Formula One champion to decide his future within the coming month.

He denied reports in Germany that the 37-year-old was seeking a two-year extension after the expiry of his contract at the end of the season and that Ferrari were considering the request.

“Having a competitive car helps, but Michael had already realised that (was the case before he won the last race at Imola), added the Italian. His future depends more on his head than on Ferrari.

Schumacher won the San Marino Grand Prix at Imola, Ferrari's home race, last month -- his first victory since the hollow triumph at the six-car U.S. Grand Prix last June.

“I am of the opinion that one does not have to risk indigestion in life but abundance is always to be preferred. We do not have a driver problem today. Raikkonen, there is absolutely nothing other than the fact that we believe he is one of the best three (drivers) at the moment,” Montezemolo added.—Agencies