Jul.29 (GMM) BMW announced at an urgent press conference in Munich on Wednesday morning that it will withdraw from formula one at the end of the 2009 season.

"I can understand why this decision was made from a corporate perspective," said team boss Mario Theissen, who admitted he was disappointed.

Official statement from BMW and discussion thread on NewsOnF1 Forums

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Formula 1 News - July, 2009It's official: BMW quit formula one

Formula 1 News - July, 2009
It's official: BMW quit formula one