Michael Schumacher, seven-time Formula One World Champion, will retire from F1 for the second time at the end of the season.
Schumacher, 43, who hasn’t won a race since making a comeback in 2010 with the Mercedes team, said in a statement cited by the BBC:
"Although I am still able to compete with the best drivers, at some point it is good to say goodbye," said the 43-year-old German. During the past month I was not sure if I still had the motivation and energy which is necessary to go on. It is not my style to do something that I'm not 100% for. With today's decision I feel released from those doubts, and in the end my ambition to fight for victories and the pleasure of driving is nourished by competitiveness."
Mercedes said Sept. 28 that it was hiring Lewis Hamilton, formerly of McLaren, to replace Schumacher next season.
Schumacher took five consecutive championships with Ferrari from 2000 through 2004, according to Bloomberg, and won titles with the Benetton team in 1994 and 1995.
He holds the record for number of championships and for grand prix wins, with 91, the Associated Press noted.
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He was linked with a move to Sauber for 2013, but ended speculation — fueled by comments by F1 boss Bernie Ecclestone — with his retirement announcement.
Ecclestone told BBC Sport in September that he was "sorry that he's leaving us not being a winner, because he is a winner"
Mercedes team boss Ross Brawn said of Schumacher:
"He's the most courageous racing driver of the century. And I feel very privileged to have worked with Michael from the beginning."