BMW quits Formula 1

BMW has confirmed it's leaving Formula 1 at the end of this season.

F1 chief Bernie Ecclestone said the German brand had given itself three years to win the world championship, and after joining Formula 1 in 2006, has managed fifth, second and third respective finishes in the constructors’ standings.

So far in the 2009 season, though BMW Sauber has amassed just eight points and the decision has been made to not challenge for honours next year.

 ‘When you consider how much money they've spent and the results they've got, it's probably not such a good investment’, Ecclestone said.

BMW motorsport director Dr. Mario Theissen said ‘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. 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.’

It comes eight months after Honda dropped out of Formula 1, paving the way for the success of Brawn GP. With BMW not providing engines to Sauber from 2010, though, it seems unlikely we'll see another successful rising from the ashes.