Magnussen also announces Haas F1 team exit

Just minutes after his teammate Romain Grosjean said he would not be staying on with the outfit for 2021, Magnussen announced that he would not be remaining either.

"The 2020 Formula 1 season will be my last with Haas F1 Team," the Dane posted on Instagram.

"I have had a great time with the team for four years and I look back at a great journey. Being part of a brand new team has been a challenge that I have thoroughly enjoyed and it has brought me a huge amount of experience that has helped me grow and develop as a racing driver.

"I would like to thank Gene, Guenther and all of the race team for their loyalty and trust in me over the past four years."

With very few cockpits available in F1 for next season, Magnussen is unlikely to secure a full-time race seat elsewhere for 2021. However, he could take a reserve or development role to try to plot a return for the following season.

He added: "I am still working on my plans for the future, which I will announce in due course

"There are still six races to do this season, and I am determined to give my all to finish off on a high. Thank you for all your support."

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The 28-year-old Dane has been with the American squad since the 2017 season, having joined a year after Grosjean.

Magnussen has scored 96 points for Haas and set the team's only fastest lap in the 2018 and 2019 Singapore Grands Prix.

His exit from Haas also leaves Magnussen with very limited choices to stay in Formula 1 next year, with very few seats available.

"I want to extend my thanks to both Romain and Kevin for their hard work and commitment to Haas F1 Team over the past few seasons," said team boss Gunther Steiner in a statement.

"Romain and Kevin played a significant part in that success. Of course, there is still plenty of racing left in the 2020 season.

"It's been a challenging year, no doubt about that, but both drivers have given their all behind the wheel of the VF-20.

"We value their inputs and experience to keep pushing the team forward through to the Abu Dhabi Grand Prix in December."

 

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