Aug.11 (GMM) Michael Schumacher has called off his sensational return to formula one.
The seven time world champion, who retired in 2006, recently said he would step in out of "loyalty" to replace the injured Felipe Massa.
He tested a 2007 car at the end of July and was set to conduct two more days in the F2007 this week at Mugello, as concerns lingered about the health of his neck that he injured in a motorcycle testing crash in February.
Schumacher, 40, said on his official website michael-schumacher.de on Tuesday morning that he told Luca di Montezemolo and Stefano Domenicali the bad news on Monday night.
"I really tried everything to make that temporary comeback possible, however, much to my regret, it didn't work out," said the German.
Schumacher confirmed speculation that he actually sustained fractures "in the area of head and neck" in the February fall.
"That is why my neck cannot stand the extreme stresses caused by formula one yet," he explained. "I am disappointed to the core. I am awfully sorry for the guys of Ferrari and for all the fans which crossed fingers for me.
"I can only repeat that I tried everything that was within my power. All I can do now is to keep my fingers crossed for the whole team for the coming races," said Schumacher.
Ferrari said on Tuesday that test driver Luca Badoer will instead drive Massa's car in Valencia and beyond.
"We have decided to give Luca Badoer the chance to race for the Scuderia after he has put in so many years of hard work as a test driver," said president Montezemolo.