BMW Confirm F1 Quit at the End of 2009

It is now official! BMW will quit Formula One at the end of 2009, as announced by the German marque's representatives in a press release this morning. During a press conference at Munich, the BMW representatives admitted this was no easy decision, but that the German manufacturer will continue to focus on other motor sport activities.

The company argued that their decision is based on the failure of meeting their goals in Formula One.

“Of course, this was a difficult decision for us. But it’s a resolute step in view of our company's strategic realignment. Mario Theissen has been in charge of our motor sports program since 1999. We have scored a large number of successes in this period, including some in Formula One racing. I would like to express my sincere gratitude to Mario Theissen and his team for this,” confirmed Dr. Norbert Reithofer, Chairman of the Board of Management of BMW AG.

“Of course, we, the employees in Hinwil and Munich, would all have liked to continue this ambitious campaign and show that this season was just a hiccup following three successful years. But I can understand why this decision was made from a corporate perspective,” added BMW motorsport director Mario Theissen.

“We will now focus sharply on the remaining races and demonstrate our fighting spirit and put in a good result as we bid farewell to Formula One racing,” added Theissen.

“It only took us three years to establish ourselves as a top team with the BMW Sauber F1 Team. Unfortunately, we were unable to meet expectations in the current season. Nevertheless, our ten years of Formula One experience have had a major impact on our development engineers. We have racing to thank for numerous technological innovations as well as the competitive spirit that drives us to develop mass-produced cars,” added Dr. Klaus Draeger, the member of the Board of Management responsible for development.

Also, Draeger admitted the company has not prepared a plan for the BMW employees working at BMW Sauber's two plants in Munich and Hinwil.

“Since we only made this decision yesterday, we cannot provide any more precise information. We will develop and assess various scenarios and do our best to find a solution for the employees in Hinwil and the staff members involved in the Formula One project in Munich. We are aware of the responsibility we shoulder and will inform the staff as soon as we can make a clear statement,” added Draeger.