The president of Ferrari, Luca di Montezemolo has rejected reports that double Formula One world champion Sebastian Vettel was set to join the Italian outfit.

"I've always said that I don't want two roosters in the hen-house. I don't like that and it creates instability in the team," he told Italian radio.

Germany's Vettel, currently racing for Red Bull, is the reigning Formula One champion and on Sunday drove to victory in the South Korean Grand Prix, leapfrogging Ferrari's Fernando Alonso at the top of the drivers' standings.

Montezemolo was speaking amid reports that Vettel was set to join Ferrari in 2014 with any move dependent on the team's results next season.

Alonso had sanctioned the move after previously ruling out pairing up with Lewis Hamilton, who will move from McLaren to Mercedes next season, according to unnamed sources at Ferrari quoted by the BBC on its website.

The Spaniard won the world title in 2005 and 2006 with Renault but has not finished above second with the Italian team.