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Casey Stoner set the pace today at MotoGP’s second off-season test at Sepang. The Australian, and the rest of the four factory Honda riders, proved to be very impressive on the Malaysian track, as the 2011 Honda RC212V seems to be hitting its stride just before the season opener in Qatar in a few weeks.

The Honda riders don’t have things all sewn up though, as the Yamaha of Jorge Lorenzo was looking very fast, as were Americans Ben Spies and Colin Edwards. Earlier in the day, nine-time World Champion Valentino Rossi even cracked into the Top 5 on the standings, and despite finishing the day just over a second behind Stoner, the Italian was upbeat about the team’s progress and his physical condition.

Editor’s note: Scott Jones will graciously be running a weekly series of his best photos from the AMA, WSBK, and MotoGP racing events here on Asphalt & Rubber. For more of his work, you can catch him at ScottJones.net.

Besides the Rossi-Ducati situation, how Casey Stoner will fare with HRC’s 2011 bike is on everyone’s mind, not least of all Jorge Lorenzo’s, who was just quoted as saying Stoner, not Rossi, would be his main competition in 2011. Stoner’s rookie MotoGP season showed flashes of brilliance, ruined repeatedly by a Michelin front tire that was not up to the demands Stoner placed on it.

Back on a Honda, Stoner will have the magnificent Bridgestone front tire without the Ducati’s temperament to manage at every corner, plus several years’ experience and a world title in his pocket since that rookie season. Given what Stoner got out of the Ducati, he should be very dangerous indeed on HRC’s final 800cc bike.”

The worst kept secret in the paddock is finally official, thus completing what MotoGP fans (especially Italians) have been waiting for: Valentino Rossi signing with Ducati Corse. The nine-time World Champion and Italian celebrity is finally paired up with Italy’s most iconic motorcycling brand for the 2011 season, an action that has been the subject of intrigue not only for the better part of this season, but for years inside MotoGP.

Announcing their partnership today, Rossi and Ducati have their work cut out for them in taking-on impressive up-start Jorge Lorenzo and the formidable Yamaha YZR-M1. Press releases from Ducati & Fiat-Yamaha after the jump, along with a quote from Valentino himself.

UPDATE 3: Ducati has officially announced signing Valentino Rossi.

UPDATE 2: Ducati Motor Holdings CEO Gabriele del Torchio has confirmed that Valentino Rossi will race with Ducati in 2011.

UPDATE: Ducati & Yamaha have made a gentlemen’s agreement to delay the announcement of Rossi’s move until after Laguna Seca, in exchange for letting the Italian test the Desmosedici GP10 at the Valencian Round.

Let’s avoid the the “scoops”, “exclusives”, and “OMG’s”, and just say that Asphalt & Rubber has received word from a trusted source that Valentino Rossi has signed a two-year agreement with Ducati, that’s set to be announced on Monday…and boom goes the dynamite (sorry, we couldn’t resist). The Rossi/Ducati fantasy has been put forth for years, with the fervor on the subject reaching its pinnacle this season, as Ducati reportedly wafted a €15 million salary (almost double Yamaha’s offer) in front of the nine-time World Champion.

Likely less to do with money, and more about prestige and priority, the announcement comes on the heels of Casey Stoner’s exodus from the Ducati team, as the Australian has jumped ship back to HRC, in what is to be some sort of multinational threesome with energy drinks involved. Ok Italy, it’s almost time to change the sheets, this wet dream is nearly a reality. Stay tuned for Monday.

UPDATE: HRC has announced that they have signed Casey Stoner for the 2011 season, and that he will likely ride with both Dani Pedrosa and Andrea Dovizioso.

Now officially official, Ducati has officially announced what we’ve known for months: that the Australian rider would be leaving the Marlboro Ducati team at the end of the 2010 season.

The relationship was first marred last season when Stoner came under a mysterious illness (too mysterious for some commentators), missed a number of races, and since then has been seemingly the bond between Stoner and Ducati has been unsalvageable. Compounded by poor results so far this season, rumors intensified as links between the Australian and HRC became evident.

While Stoner has not mentioned where he will ride for the 2011 season, an announcement about his move to Repsol Honda is expected later today.

The Italian press is buzzing about the latest silly season info regarding Valentino Rossi, and where he will be racing next year. According to Corriere dello Sport, Ducati has upped their offer to Rossi to €15 million and has included provisions that would allow the Italian to race later with either Ferrari F1 or Fiat Rally teams once he’s finished with motorcycle racing.

Now…you’d expect Yamaha to up its ante on the nine-time World Champion, right? Not quite. Instead Yamaha has reduced Valentino’s Rossi contract price from the €14 million they current pay him each year to €9 million. More on the reasoning behind that after the jump.

GPweek.com is reporting that Casey Stoner’s mechanics in the Marlboro Ducati garage have been warned “that they may have to seek new employment for next season.” If true, this is a strong indication that Ducati does not expect the Australian GP Champion to return to the Italian team for the 2011 season. While many sources are quick to make the link that this means Rossi is inbound to the Ducati team, we’re still hesitant to subscribe to that faulty logic.

Crash.net is reporting that Casey Stoner has already made his mind up to leave Ducati, according to a high-ranking Marlboro Ducati team member. While rumors were rife a couple weeks ago that Stoner had signed a deal to ride with HRC in the upcoming season, parties were quick to correct that nothing had been signed, and this was still rumor. Rumor it might be, but the skinny in the MotoGP paddock is that Stoner has basically come to terms with riding with Honda in 2011, with the contract ready to go, but still sans signatures.

Yes silly season is well upon us now for MotoGP, and rumors are swelling after Livio Suppo spent time with Casey Stoner and his father during the MotoGP testing at Jerez, Spain. Suppo, who moved to HRC after 11 years with Ducati, is rumored to have met with Stoner in order to have the Australian rider make a switch of teams in 2011. The Honda marketing manager made it clear when he jumped ship from Ducati that he would be back for Stoner, a rumor that’s been confirmed by Loris Capirossi, and passed around the paddock more than a few times.