It was recently revealed that team principal Flavio Briatore, with Fernando Alonso's seat to fill, was keen to stage talks with the Ferrari veteran's manager Willi Weber.
In typical Briatore-style, he muddied the waters by suggesting that seeing 37-year-old Schumacher in a blue and yellow racer would be akin to him being photographed dating a 90-year-old.
Alonso backed up the rejection of the rumor by openly laughing at the idea of Schumacher accepting a massive pay-cut.
In an apparent u-turn, however, Italian 'Flav' has now been quoted as saying that Schumacher is one of only 'three or four guys' in pitlane who could take a Renault to the top step of the podium in 2007.
''I am looking for somebody to win races with our car,'' 56-year-old Briatore said, ''and (Michael) could.''