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Wow - it seems lately like everyone is jumping ship. Is it due to the economic downturn - or something else?

From the Formula One website:

Toyota will be absent from the grid next season after the team’s parent company announced its withdrawal from Formula One racing on Wednesday. The team had been competing since 2002.

“Toyota Motor Corporation (TMC) announces it plans to withdraw from the FIA Formula One World Championship at the end of the 2009 season,” said a statement released by the Japanese car manufacturer.

“TMC, which had viewed its participation in F1 as contributing to the prosperity of automotive culture, remained dedicated to competing at the pinnacle of motor sports, even in the face of the abrupt economic changes that started last year.

“However, when considering TMC’s motor-sports activities next year and beyond from a comprehensive midterm viewpoint reflecting the current severe economic realities, TMC decided to withdraw from F1.”

Read more…

F1 2009™, the official video game of the 2009 FIA Formula One World Championship, is set to deliver an even more authentic experience for gamers after developers Codemasters announced that a limited edition Race Wheel accessory, styled after an F1 steering wheel, will ship with the Wii™ edition in selected territories.

The F1 2009 bundle box will feature the exclusive white Race Wheel, which the Wii remote slots into, enabling players to steer the Formula One cars in the game, due for release this autumn, like their heroes.

The news comes ahead of this weekend’s European Grand Prix and the Valencia circuit, complete with its unique swing bridge, is playable for the first time in F1 2009. A gameplay video packed with race action from Spanish track is now available at www.formula1-game.com.

F1 2009 will offer a fully authentic Formula One experience, with all the teams, drivers, cars and tracks from the enthralling 2009 season. The Wii version will set new standards for racing immersion and authenticity, while remaining accessible for the entire family, and the PSP version will allow fans the opportunity to enjoy the world’s most thrilling and glamorous sport on the move.

After travelling back to his home country of Brazil on Monday, Brawn GP’s Rubens Barrichello has wasted no time in catching up with friend Felipe Massa. Barrichello visited Massa’s home on Wednesday, as his fellow Brazilian continues to recuperate from the fractured skull he sustained during qualifying for the Hungarian Grand Prix.

Updating his official Twitter page, Barrichello said: “I have spent the afternoon with Felipe. He is fine and exactly the same person as before…thank God. I loved the afternoon, he was so well and in good spirits. On Felipe’s comeback we need to be patient. He has to be 100 percent before he drives again.”

Although Massa has been making a remarkable recovery from his injuries, no official date has been set for his return to the track, with personal doctor Dino Altman explaining last week that he’ll need time to ‘calmly convalesce’. Ferrari tester Luca Badoer is to fill in for the 28 year-old at next weekend’s European Grand Prix.

See even more info/updates at www.formula1.com and follow F1 and other racing series every day at www.carracing.com.

Well, they went and did it. BMW announced this morning it’s plans to pull from Formula One racing effective the end of the 2009 season. Citing “restructuring” of the company, BMW’s spokesperson called this a “landmark” decision - indeed!

BMW’s original Formula One involvement began in the 1980s as an engine supplier. With Brabham from 1982 to ’85, the company clinched eight Formula One victories and one world title, courtesy of Nelson Piquet in 1983. Following a final win with Benetton in 1986, BMW were absent from F1 competition until 2000 when they began supplying engines to Williams, taking 10 victories over the following five years.

In 2006 the company took over the Sauber team and enjoyed a positive first season as a fully-fledged works entry, finishing fifth in the constructors’ championship, with two podium finishes. The team went from strength to strength in 2007, occupying the ‘best of the rest’ slot behind Ferrari and McLaren. Scoring in all 17 races, BMW Sauber eventually finished second in the standings, behind Ferrari.

Last year, the team became championship contenders, with driver Robert Kubica clinching the team’s first pole position in Bahrain and then a maiden win at the Canadian Grand Prix. However, they have found the going a lot tougher this season and have scored just eight points to date.

With Felipe Massa injured in Hungarian Grand Prix qualifying on Saturday and likely to be sidelined for the rest of the 2009 Formula One season, Ferrari must find a replacement driver in time for the next race in Valencia, Spain on Aug. 23. Insiders say that former world champions Michael Schumacher and Fernando Alonso are tops on the list of potential candidates.

A source close to the team confirmed that Alonso is not an impossible choice. Getting him into the car half a season ahead of schedule will be a big task. But Renault team boss Flavio Briatore may well be tempted by a huge influx of cash.

Meanwhile, Schumacher is available and has retained his ties with Ferrari. F1 commercial boss Bernie Ecclestone will be keen to see him back behind the wheel, if only for half a season, as it would do wonders for TV ratings and provide a massive boost for the promoters of the last seven races. Schumacher would also be a big morale booster for the team and obviously provide valuable feedback.

The Spaniard Jaime Alguersuari, 19, will become the youngest driver to race in Formula One this weekend and is drawing criticism from fellow drivers about his inexperience even before the start of the Hungarian Grand Prix in Budapest. Alguersuari will set the record at 19 years 126 days, breaking the mark set by the New Zealand driver Mike Thackwell by 57 days.

Don’t miss this weekend’s Formula 1 action - view it online or check your local listings!

Formula One’s leading teams revived their threat to form a breakaway series on Thursday despite the sport’s governing body insisting that a deal to end the long-running saga over regulations could be reached in days.

F1’s fragile peace was thrown into doubt again Wednesday when the Formula One Teams Association walked out of a meeting with the FIA after being told they had not been entered into the 2010 championship and would have no say in finalizing cost-cutting measures.

“We cannot sit back and wait. We have to keep all options open,” BMW Sauber motorsport director Mario Theissen said Thursday from the site of the upcoming German Grand Prix. “And that means we have to look at the other points as well. We have to prepare for all possibilities.”

What’d I tell you? Jenson Button was on the top of the podium again following the Monaco Grand Prix in the Formula One series this weekend.

This is Button’s fifth win in the 2009 season - how far will he go? - it’s still pretty early in the season!

There was not a single moment when he ever looked like losing this one, as he stretched his points score to 51, and his lead to 16 over Barrichello. His only error came following the chequered flag when, in his jubilation, he parked his car in the wrong parc ferme area and had to jog all the way to the podium like the triathlon runner he is. It was a pluperfect performance.