BMW to Announce F1 Quit on Wednesday

BMW is to shock the world of Formula One later today, when the German manufacturer it set to announce its complete withdrawal from the sport. A press conference has been set for this morning at 10 a.m. at the German marque's headquarters in Munich, with members of the international media invited.

According to the initial announcement, the press conference will be focused on “current developments in motor sport.” Nothing strange about that. However, the GMM news agency is quoting an unnamed source as saying that BMW's announcement on Wednesday will be “very important.”

Bear in mind that BMW Sauber were the only team not to sign the new Concorde Agreement, believed to have been agreed upon by the FOTA during the course of last weekend, in Hungary. That being said, it's almost certain that the German car maker will leave the world of Formula One, especially since their rate of success in the series – during the ongoing season – has been disastrous.

Of course this is just speculation, but BMW are believed to now switch their attention to other forms of motor sport, most likely sports cars. A comeback in the Le Mans circuit is also out on the table for the Munich representatives.

As shocking as this news might be for Bernie Ecclestone, the Brit might also find himself in the situation of seeing two other manufacturers leave the series this year. Toyota and Renault are close to putting an end to their F1 operations also, which might bring the number of F1 entries for 2010 back to 10.
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