Four-time German world champion Sebastian Vettel will leave Ferrari when his current contract expires at the end of the 2020 season, Team Principal Mattia Binotto said Tuesday.
"We took this decision together with Sebastian," he said.
Vettel, 32, joined the F1 glamour team in 2015 after racking up his four world titles with Red Bull, but has failed to gain similar success with the Prancing Horse.
Vettel said: "I'm going to take some time to reflect on my future, economic reasons did not come into the separation from Ferrari". A replacement, to race alongside Charles Leclerc, has not yet been named.
Leclerc stole a lot of Vettel's thunder last season but they were both unable to challenge Mercedes British driver Lewis Hamilton's drive to his sixth world title.
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