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BMW pulling out of F1

Updated: July 29, 2009, 2:34 PM ET
ESPN.com news services

MUNICH -- BMW is pulling out of Formula One at the end of this season, the second carmaker to leave the series within a year.

The German company announced the decision at a news conference Wednesday, saying it wanted to use its significant F1 budget in other areas. It will remain involved in auto racing.

Since entering F1 as a team by taking over the Sauber team ahead of the 2006 season -- it had previously acted as an engine supplier -- BMW had posted just one race win, at last year's ...

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