BMW Sauber today confirmed they are to withdraw from Formula One at the end of the 2009 season.

The announcement, made at the team's headquarters in Munich and on their website, means BMW are the second major manufacturer to pull out of the sport in the space of eight months following Honda's withdrawal in December.

The news comes ahead of the imminent signing this week of a new Concorde Agreement, the commercial document that governs F1 and binds the teams to the sport for the length of the contract.

BMW made their decision after a management board meeting yesterday.

"Of course, this was a difficult decision for us, but it's a resolute step in view of our company's strategic realignment," said Dr Norbert Reithofer, chairman of the Board of Management of BMW.

"Premium will be increasingly defined in terms of sustainability and environmental compatibility. This is an area in which we want to remain in the lead.

"We are continually reviewing all projects and initiatives to check them for future viability and sustainability.

"Our Formula One campaign is thus less a key promoter for us."

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