Luca di Montezemolo

Luca di Montezemolo (right)

Ferrari CEO Luca di Montezemolo has admitted he would welcome Porsche to formula one.

The VW-brand has played down the latest rumours about a V6-powered grand prix foray on the back of its forthcoming return to Le Mans, but Ferrari president Montezemolo said: "I feel great respect for Porsche, who I consider the main rival of many of our cars.

"Competition is always welcome, especially when you're sure you will win," the Italian is quoted by Spain's AS newspaper.

But even with Porsche rejecting the latest speculation, the German newspaper Kolner Express said all the signs are pointing towards a 2016 Formula 1 season foray for the famous sports car maker.

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