Yamaha MotoGP boss Lin Jarvis believes Jorge Lorenzo is waiting to evaluate a potential offer from Ducati following Yamaha proposing a MotoGP contract extension last week.
Both Yamaha riders' contracts expire at the end of 2016, and the manufacturer put two-year extensions - negotiated over recent weeks - to Lorenzo and team-mate Valentino Rossi.
Rossi put pen to paper while in Qatar, with his new deal announced on Saturday.
Jarvis says Lorenzo has what his management accepts is "the best offer they've had in Jorge's racing career", and he is now playing the waiting game.
"From Yamaha's side, we have put our best efforts to put a very good contract on the table," Jarvis said.
"Am I confident that he will accept? You can never be confident, because we are not alone, there are other competitors and Jorge is the current world champion and one of the fastest riders in the world.
"There will be other teams and constructors looking to attract his services.
"With a bit of luck, Jorge soon will also decide to go on with us."
Jarvis said there is a deadline attached to the offer, which he would not be drawn on, and that the early deals put to both riders was driven by Lorenzo's stated ambition of having a new deal secured before this weekend's season opener.
When asked who Lorenzo could be waiting on, Jarvis said: "My guess is Ducati, because Honda already has a top, leading rider.
"Ducati has two very competitive riders but from what I understand they are looking to take a top gun, one of the top four, in order to take their programme to another level."
That Lorenzo, who is entering his ninth MotoGP season with the factory Yamaha team, would want to wait and survey all of his options does not surprise Jarvis.
"From my experience with Jorge over many years, he is always somebody that wants to try to evaluate and understand all of his possibilities before making a commitment," he added.
"He always wants to try to stand a hundred per cent behind the decision that he finally makes.
"Maybe some other people would do it in a different way, but Jorge is somebody who, normally, he wants to understand.
"He wants to know everything, he wants to have it all laid out on the table, evaluate plus and minus and then decide.
"We hope that he will choose Yamaha and make the right decision.
"We can do no more than we have done, so we are comfortable with our proposal and comfortable with our team and our package and everything we have.
"But if somebody finally chooses to do something else, it's their right to do so."
