Michael Schumacher in Barcelona on Friday

Barcelona: Michael Schumacher ruled out a return to Formula One as a team boss or owner on Friday.

The German also said he had no desire, for the moment at least, to step back into a Formula One car either.

The seven-time world champion was in the Ferrari paddock at the Spanish Grand Prix for the first time since retiring from racing at the end of the 2006 season.

“I’m only so many months out of this business and I’m quite happy with that,” he declared. “Who knows what my future will be?”

For now, the 38-year-old German driver prefers watching the competition to competing with it. “This season has been very exciting with the new drivers, new faces and a tighter competition. It’s nice to watch it,” Schumacher said at a press conference.

Looking relaxed and sounding at ease, the 38-year-old German made clear he had no plans to play any major role in the sport he once dominated .

Asked whether he had ambitions to be a team owner or to run Ferrari when Jean Todt steps down, he replied: “Neither. Absolutely not, no. I just don’t want to. I have other ambitions in life.”

Schumacher retired after last season’s final Brazilian Grand Prix, bowing out with a record 91 wins and 68 pole positions from 249 races.

He has an unspecified role at Ferrari, the team he likened to a second family while competing, and he said he would simply be observing activities from a distance in Spain this weekend.

He rejected a suggestion that his presence could be a distraction for a team challenging McLaren for the championship lead after three races. “I wouldn’t be here if that were the case,” he said. “My participation is to help in any means that I can, not to distract them. I will be where I am needed to be.”

He praised former teammate Felipe Massa and new addition Kimi Raikonnen for their strong start to the campaign, but made it clear they needed no assistance from him.

“Obviously I am in close contact with the guys when I’m not there,” he said. “I follow everything and I know Felipe very well, we’ve been friends over all these years he’s been working with Ferrari.

“Obviously, I wish I could see the guys more often. Those moments have always been very pleasurable and those are the things I do miss. But when I have time I can always come out and see them.”

The bright side of retirement is more time to pursue his passion for soccer, to work more closely on road cars and spending time with his family.

“We can plan holidays without any other agenda getting in my way,” he said. “That’s the situation I was looking for. I’m very relieved. You wake up in the morning and you make up your own schedule rather than somebody else doing it for you.”

McLaren’s Lewis Hamilton also drew praise from Schumacher. The 22-year-old Briton last month became the first rookie driver in the sport’s history to finish his first three races on the podium and is likely to be a winner before the season is out.

“I think he’s doing a very good job. It’s not a surprise to me after seeing his races last year in particular.”

Hamilton won the GP2 support series in 2006. (AGENCIES)