Ferrari has formally announced Sebastian Vettel will leave the team at the end of the 2020 Formula 1 season, calling it a joint decision.
Motorsport.com's sister site Motorsport-Total first reported that Vettel was set to leave Ferrari at the end of the year after a breakdown in negotiations over a new contract.
Vettel’s existing three-year deal expires at the end of the season, but after months of talks over a fresh contract without a breakthrough, the decision was taken to part company.
Ferrari confirmed Vettel’s departure in a statement issued on Tuesday morning.
“This is a decision taken jointly by ourselves and Sebastian, one which both parties feel is for the best,” Ferrari team principal Mattia Binotto said.
“It was not an easy decision to reach, given Sebastian’s worth as a driver and as a person. There was no specific reason that led to this decision, apart from the common and amicable belief that the time had come to go our separate ways in order to reach our respective objectives.”