Talking about the current condition of Michael Schumacher, the former Ferrari driver and seven-time world champion, Luca di Montezemolo, the former Ferrari President, said Schumacher's health was not good following his skiing accident in December 2013 - Montezemolo made his comments on stage during a ceremony for the 60th anniversary of the Italian car magazine Quattroruote.

SOUNDBITE (Italian) former Ferrari president Luca di Montezemolo:

"I have news and unfortunately it is not good, not good as one wished. Life is really strange. When Michael raced with us, he was the most successful driver in the history of Ferrari. He had only one accident during that time, which was our fault. It was in 1999 when he broke a leg going off the track. He never had another accident. Everybody said that he was a daring skier but it is not true. Due to a tragedy in life, he finds himself still in these conditions. He was a great driver, and we shared wonderful years working together, as well as in our personal lives. We both had children at similar time and shared great experiences. And I think he deserves a huge round of applause (audience applauds)."