Source: Supplied.

Ducati has formally announced that reigning MotoGP World Champion Jorge Lorenzo has signed with the Italian manufacturer for the 2017 and 2018 seasons in a lucrative two-year deal.

Lorenzo, who has been with Yamaha since his arrival in the premier class during 2008, will ride the Desmosedici GP in the factory Ducati Team as of next year. Who he will replace hasn’t been finalised.

“Ducati announces that it has reached an agreement with Jorge Lorenzo thanks to which the Spanish rider will take part in the MotoGP World Championship in 2017 and 2018 aboard the Ducati Desmosedici GP of the Ducati Team,” a statement read. Lorenzo, born in Palma de Mallorca on 4 May 1987, has won five world championship titles throughout his racing career (250cc in 2006 and 2007 and MotoGP in 2010, 2012 and 2015).”

Yamaha then confirmed that Lorenzo will be departing following a nine-year association aboard the YZR-M1. A new teammate will be signed alongside Valentino Rossi, who recently re-signed a two-year extension with the factory squad.

“Yamaha Motor Co., Ltd. announces that its partnership with Jorge Lorenzo will be discontinued at the close of the 2016 MotoGP season, when Lorenzo will move on to new racing challenges,” its announcement confirmed.

“Since Lorenzo joined the Yamaha Factory Racing Team in 2008, Lorenzo and Yamaha won three MotoGP World Championships (2010, 2012 and 2015), clinched 41 race wins and have been on the podium 99 times out of 141 races contested.

“Yamaha is extremely grateful for Jorge’s contributions to its racing successes and looks forward to sharing more memorable moments during the remaining 15 MotoGP rounds of 2016, their ninth season together.

“Yamaha Motor Co., Ltd. wishes Lorenzo the very best in his future racing endeavours and reconfirms the Movistar Yamaha MotoGP team’s full support on his campaign to achieve his fourth MotoGP title. Having already reconfirmed Valentino Rossi for 2017-18, Yamaha will announce the future Movistar Yamaha MotoGP team riders’ line-up in due course after securing the services of the second rider.”