Fernando Alonso is set to leave Ferrari at the end of the season.
Luca Cordero di Montezemolo, the head of Ferrari, confirmed the rumours while speaking on Italian television.
The former World Champion is to be replaced by the German Sebastian Vettel, currently driving for Red Bull.
What next for the Spaniard remains uncertain.
Mercedes is Alonso’s preferred option, but McLaren is also a possibility.
A sabbatical away from F1 is also being touted.
On Tuesday Alonso set tongues wagging when he said “everyone will be surprised when I announce may future”.
He has also expressed a desire to invest in a pro-cycling team.