Michael Schumacher announces retirement from F1 as Hamilton takes over from 2013

In what might be a sad day for his affectionate fans, Michael Schumacher, while speaking to the media in Suzuka, Japan, confirmed his retirement from Formula One at the end of the season. The news comes in a week after Mercedes Petronas AMG announced the signing of Lewis Hamilton from 2013 as his replacement.

With, 91 wins, 68 pole positions, 155 podium finishes and 7 world championships - Schumacher is the most successful driver of all time. He returned back in 2010 with Mercedes, but has been unable to replicate the (extreme) success from his dominant stint in Ferrari.

With Mercedes he has only managed a best of one podium, no victories besides numerous instances of mechanical failures. Despite claiming pole at this year’s Monaco Grand Prix, he had to start from fifth due to a penalty incurred from the previous race.

Schumacher explained he is uncertain if he can feel fully motivated and energised to continue in the future and wants to be measured by his success. However, he is happy overall with the achievements attained in F1.

Schumacher also mentioned he has learnt a lot in the past six years, including more about himself and admitted that losing is more difficult and more instructive than winning, something he occasionally lost sight on in earlier years. At the event, he also thanked Diamler, Mercedes and its team for their trust. He also thanked his friends, partners and companions, for the support and primarily his family for always standing by his side and providing him with the freedom to live his desires and sharing the joy.

"I have decided to retire from Formula 1 at the end of the season, although I am still able to compete with the best drivers of the world. This is something that makes me proud, and this is part of why I never regretted my comeback. I can be happy with my performance and the fact that I was continuously raising my game during the last three years. But then, at some point it is time to say goodbye."

"Already during the past weeks and months I was not sure if I would still have the motivation and energy which is necessary to go on; and it is not my style to do anything which I am not 100% convinced about. I have said at the end of 2009 that I want to be measured by my success, and this is why I had a lot of criticism in the past three years which partly was justified. It is without doubt that we did not achieve our goal to develop a world championship fighting car within those three years. It is also without doubt that I cannot provide a long-term perspective to anyone. But then it is also clear that I can still be very happy about my overall achievements in Formula One."