Italy's nine-time world champion Valentino Rossi has extended his contract with MotoGP outfit Yamaha until 2016, the team announced on Wednesday.

The announcement pours cold water on any reports the iconic 35-year-old rider was thinking about quitting the sport at the end of the season.

"I am very happy to announce that I have signed a new contract with Yamaha to continue together in MotoGP for the next two years and I am very proud of this announcement," Rossi said.

"I am very happy that I can keep riding my YZR-M1, that has been my love for so many years and will still be my love this year and the following two seasons."


Rossi, who first won the 125cc world title in 1997 before moving up to claim global honours in the 250cc category two years later, has since added seven world titles at the highest level.

He is currently tied for second in the championship standings with Spanish Honda rider Dani Pedrosa, with the two men 72 points behind Marc Marquez of Spain who has won all eight races this season on a Honda.