Michael Schumacher announces his retirement from Formula One

Michael Schumacher bids
farewell to F1 once more.

7 time World Champion Michael Scumacher has announced his retirement from Formula One racing for the second time.

Following the announcement that the 43 year old is to be replaced at Mercedes by Lewis Hamilton for the 2013 season, speculations immediatley surrounded the German, with rumours of a move to Sauber or a return to Ferrari circulating the paddock. Schumacher's manager was even seen talking to Sauber's managment as the recent Singapore Grand Prix (as reported here).

Schumacher claimed that "I have had my doubts for quite a while whether I had energy to carry on." and stated that he was looking forward to his 'freedom'.

Michael Schumacher is statisctically the greatest driver in the history of Formula One racing, with records for most championships (7), most consecutive championships (5), most wins (91), most poles (68) amongst several others. He has also participated in over 300 grand prix (second all time).

It is unknown what is next for Schumacher, whether he will continue to race in another category or take on a management or ambassadorial role within the Mercedes AMG Petronas F1 team, as has been speculated.