This is F1Minute for the 4th November 2009.

More shock news today as Toyota confirmed they would be pulling out of Formula One with immediate effect. A statement from the team read: “Toyota Motor Corporation, which had viewed its participation in F1 as contributing to the prosperity of automotive culture, remained dedicated to competing at the pinnacle of motorsports even in the face of the abrupt economic changes that started last year. However, when considering TMC’s motorsports activities next  year and beyond from a comprehensive mid-term viewpoint reflecting the current severe economic realities, TMC decided to withdraw from F1.” I just love these exit statements, don’t you?

Meanwhile, the FIA have also spoken out today, saying they are concerned about both the Bridgestone and Toyota announcements this week, but more Toyota as it has come at such short notice, and particularly so quickly after signing the Concorde Agreement.

That’s all for now, I’ll be back tomorrow with another F1Minute.