BMW pulls out of F1: Bad Investment

Recent news has revealed that BMW will be withdrawing from Formula 1 at the end of the season. According to timesonline.co.uk, a press conference has reportedly been called for today at the German manufacturer’s headquarters in Munich, where they will officially announce the news.

Apparently, there was a statement on the team’s website that confirmed the news. It also claimed that Formula 1 wasn’t a viable venture for BMW anymore. The chairman of the BMW AG group Dr. Norbert Reithofer stated that it was a difficult decision for them to make.

Although it was stated that the reason behind the withdrawal was because of the F1 campaign being less of a key promoter for BMW, Bernie Ecclestone, who is the commercial rights holder of F1 says otherwise. He claims it’s because the team have fallen short of expectations.