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Wednesday, July 29, 2009

BMW quits F1

BMW held a press conference Wednesday morning announcing it will quit Formula One at the end of the season.

F1 Grand Prix of Hungary - Practice

"Of course, this was a difficult decision for us," explained Dr. Norbert Reithofer, the chairman of the BMW board. "But it’s a resolute step in view of our company's strategic realignment. Premium will increasingly be defined in terms of sustainability and environmental compatibility. This is an area in which we want to remain in the lead. Our Formula One campaign is thus less a key promoter for us."

Much speculation has surrounded Toyota as being most likely to follow Honda out of the sport, something Toyota finds itself denying again today, but the loss of BMW was a bit of a shock.

It does, however, put into perspective the team’s statement earlier this month the it planned to keep focusing on this year’s uncompetitive car rather than turn its attention to 2010.

BMW’s full statement can be found in the news section of the team Web site.



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Anonymous said...

How many times have we heard, over the past few years, that selling the sport to the manufacturers was a mistake. That as soon as the economy soured, they'd walk away. These are the people who were going to form their own series, a year or two ago? That requires staying power, character, backbone. Ha!

Anonymous said...

This is anywhere in our community

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