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UPDATE: According to Brivio, Rossi just finished 46 laps with a best time of 1’59.135. He reports Rossi as being tired, but his leg and shoulder are feeling better.

Fiat-Yamaha Team Manager Davide Brivio snapped this photo of Valentino Rossi as he left the team box at Brno this afternoon in the Czech Republic. So far Rossi has completed 18 laps around Brno, and will hold a press conference after this last session.

According to GPone.com, Rossi’s best lap on his first run was in 2?01.200, while on the second run his best lap was 2?00.600 with the same track temperatures as yesterday’s WSBK races. Compare that to Cal Crutchlow’s Superpole time of 1?58.018 just a few days ago in similar conditions.

Source: Twitter

UPDATE: Fiat-Yamaha has confirmed that Rossi will test at Brno on Monday, with a press conference following the day’s testing sessions.

TwoWheelsBlog has gotten word that Rossi will be testing yet again, this time on James Toseland’s YZF-R1 at Brno tomorrow (Monday), as the Italian continues to gauge his progress to physical recovery. Keen to get back to racing,and save MotoGP from its plummeting ratings since his departure, Rossi has called for a press conference immediately following that day’s testing session. At the press conference Rossi is expected to announce his thoughts on racing next weekend at the German GP. A&R also expects Rossi to make the biggest announcement in MotoGP history on Monday as well.

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.

Italy was abuzz yesterday as Valentino Rossi took to the track, testing at Misano, after nearly a month long hiatus. Breaking his shin during a highside at Mugello, Rossi was able to get back in the saddle this week partly because of his extensive use of a hyperbaric chamber, which super-saturated his body with oxygen and increased his body’s healing power, but it is also because the Italian World Champion is just that dedicated to racing.

One lucky spectator at Misano was able to catch a number of Rossi’s laps on video, as the Italian completed 26 laps, over two sessions, on the 2010 Yamaha YZF-R1 World Superbike. Rumors peg the carbon-clad WSBK R1 as being one of Cal Crutchlow’s bikes. Crutchlow is a favorite candidate to move into MotoGP (with Monster Tech3 Yamaha) next season, if Yamaha loses Rossi to Ducati in 2011. Check the videos out after the jump.

Valentino Rossi completed 26 laps of testing today at Misano, while on-board a World Superbike spec 2010 Yamaha YZF-R1. After being off a motorcycle for nearly a month, Rossi and Fiat-Yamaha hoped to assess today how the Italian rider’s broken right leg has progressed since its injury on June 5th at Mugello. Rossi did an initial run of 11 laps on the R1 late in the afternoon, with a best time of 1’41.00. An hour later, the Champion did a second session of 15 laps, improving on his time by 3 seconds, with a best time of 1’38.200. Although pleased with the test, there’s still some debated on when Rossi will return to MotoGP racing.

News regarding Valentino Rossi is at a fever pitch, as it is expected the Italian rider will announce at the Catalan GP his intentions on where he will race in next season. For weeks, if not months now, Rossi has been linked to a very lucrative €15 million deal with Ducati Corse, while Fiat-Yamaha have reportedly scaled back their offer on the GP Champions from his current €14 million salary to €9 million.

Paddock gossip has said that Rossi has been considering both offers; however, at Barcelona we should finally know the answer to what team Rossi has picked, but some sources are already claiming they know the answer.

After the collective groan that emanated from MotoGP fans around the world when Wataru Yoshikawa was announced as Valentino Rossi’s replacement, Interwetten Honda is feeling a bit frisky about MotoGP’s next stop at Barcelona for the Catalan GP.

As such the team has challenged the Fiat-Yamaha substitute rider to battle with their own replacement for Hiroshi Aoyama: Kousuke Akiyoshi. With neither rider likely to make much of a showing against the MotoGP usuals, Interwetten Honda boss Daniel Epp sees a battle of the backmarkers as a way to spice up the race.

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.

Yamaha has officially announced that factory test rider Wataru Yoshikawa will be replacing Valentino Rossi at the next rounds of the MotoGP series, starting at the Catalan GP in Barcelona. The move comes after much speculation was created about whom would take the place of the Italian GP Champion, after his crash at Mugello. Yoshikawa is a former Japanese SBK Champion (1994 & 1999), and his ridden as a GP wild card numerous times for Yamaha.