Formula One is braced for an announcement by BMW at an emergency press conference in Munich today that it will withdraw from the series at the end of this season.
Autosport.com reports that BMW officials have refused to say what the press conference will be about, but have said it is “important” news arising because of “current developments in motor sport”. It will be hosted by BMW’s board chairman Dr Norbert Reithofer, director of development Dr Klaus Draeger, and motorsport director Mario Theissen.
Autosport.com reports that its sources have said that the company had planned to review its involvement in F1 this July, despite the fact it had given reassurances as recently as May that it was committed to the sport and was on the verge of signing the new Concorde Agreement between the teams and the series’ commercial rights-holder.
The team’s 2009 car has fallen short of expectations and the energy saving Kinetic Energy Recovery System (KERS) which it had lobbied hard for is to be dropped next season. Autosport.com said that both factors are likely to have discouraged BMW from continuing its F1 involvement.
