Michael Schumacher: Latest on F1 legend 'not good', says former Ferrari boss Luca di Montezemolo

The former driver was involved in a skiing accident in December 2013

There are conflicting reports about Michael Schumacher's recovery (AFP)

The latest update on the condition of Michael Schumacher is "not good" according to his former boss at Ferrari.

Luca di Montezemolo told reporters on Thursday: "I have news and unfortunately it is not good."

Di Montezemolo refused to elaborate on his words and Schumacher's official spokesperson Sabine Kehm has declined to comment when contacted by media outlets.

Schumacher is currently being given intensive treatment at his home in Switzerland following the accident in France three years ago.

"Life is strange," added Di Montezemolo of the seven-time F1 world champion.

"He was a fantastic driver and only had one accident with Ferrari in 1999."