(CNN) -- Seven times world champion Michael Schumacher will make a dramatic return to Formula One as a replacement for injured Ferrari driver Felipe Massa.
Michael Schumacher will make a dramatic return to Formula One as a replacement for Felipe Massa.
1 of 2 more photos » The 40-year-old German, who retired from the sport in 2006, won five of his seven titles while competing for Ferrari, and has retained his links with the Italian manufacturer as a team advisor.
Schumacher told CNN: "The most important thing first: thank God, all news concerning Felipe is positive. I wish him all the best again.
"I met Stefano Domenicali and Luca di Montezemolo from Ferrari on Wednesday afternoon and together we decided that I will prepare myself to take Felipe's place.
"Though it is true that my Formula One chapter has closed, it is also true that for loyalty reasons to the team I cannot ignore their current unfortunate situation. As the competitor I am I also very much look forward to facing this challenge."
Schumacher's spokesperson Sabine Kehm confirmed to CNN: "He is coming back pending medical exams and will be in the Ferrrari cockpit for the next race in Valencia on August 23 if those tests go well."
Ferrari later confirmed Schumacher's return in a statement: "Ferrari intends to entrust Michael Schumacher with Felipe Massa's car for as long as the Brazilian driver is not able to race.
"Michael Schumacher has shown his willingness and in the next few days he will undergo a specific program of preparation at the end of which it will be possible to confirm his participation in the championship starting with the European Grand Prix."
Rumors began to surface about Schumacher's likely return on Tuesday, with Kehm telling CNN at the time: "There is no offer from Ferrari, but if they decided they need him, Michael would certainly weigh his options."
Meanwhile, Massa has been moved out of intensive care at the AEK military hospital in Budapest, with his personal doctor convinced he will race again.
Massa's rapid improvement since undergoing surgery on Saturday to repair a fractured skull following his crash during qualifying for the Hungarian Grand Prix, has prompted doctors to move the Brazilian to his own private room.
It means Massa is now off the critical list, although the 28-year-old will continue to be closely monitored by medical staff. Initial fears that the Brazilian may never drive again, due to concerns surrounding the sight in his left eye, also appear to have eased.
Ferrari spokesman Luca Colajanni told Press Association Sport: "The most important situation is that Felipe is out of intensive care and now in his own private room.
