In a shock statement, BMW today announced their exit from Formula One and will not be on the grid from 2010. This is a big blow to the F1 fraternity and their loss is definitely a huge one. With Honda and BMW out, and rumours about Toyota quitting gaining ground, F1 is looking at a grim future.
BMW entered the sport in 1999, supplying Williams with engines for a good six years. Under the abled leadership of Mario Theissen, the team came close to winning the Championship with Williams in 2003, with Juan Pablo Montoya at the wheel. In 2005, the German manufacturer decided to go on their own and bought the Sauber team to form BMW Sauber. While they had some competitive seasons, 2008 gave them their best possibility to win the Championship. They recorded their only win in Canada last year with Robert Kubica as they looked to be genuine title contenders. However, they stopped developement of the 2008 car to concentrate on the 2009 car and were heavily criticized as Kubica came 4th in the Championship. This year the car has been nowhere as competitive as they expected to be, and have languished at the back of the grid for most of the races.
BMW's failure to win the Championship and the current economic crisis have attributed to the German manufacturer pulling the plug on its F1 project. Let us hope that they will be the only manufacturer leaving F1 this year.
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