Seven-time Formula One world champion Michael Schumacher retires

Seven-time world champion Michael Schumacher has confirmed he will retire for good at the end of current Formula One season.

'Michael Schumacher: The racing facts'

Mercedes had already announced last week that Schumacher would be replaced by Lewis Hamilton next season, and while there had been speculation the 43-year-old German could move to Sauber, he instead announced Thursday that he would end his career.

"Basically, I've decided to retire at the end of the year,'' Schumacher said ahead of Sunday's Japanese Grand Prix. "Although I was able and capable of competing with the best drivers that are around at some point it's time to say goodbye and this time it might be forever.''

Schumacher holds the record for number of championships and for grand prix wins, with 91. He began his career in 1991 and won two titles with Benetton then five for Ferrari. He initially retired in 2006 but made a comeback with Mercedes in 2010. That comeback had not lived up to expectations, with just one podium finish.

"It's without doubt that we did not achieve our goals to develop a world championship fighting car,'' Schumacher said. "But it is also very clear I can be happy with my overall achievements.''

Mercedes team boss Ross Brawn paid tribute to Schumacher. Brawn was also chief strategist at Ferrari when Schumacher and the Italian team became so dominant that the sport's authorities made several rule changes to spice up the level of competition.

"He's the most courageous racing driver of the century,'' Brawn said "And I feel very privileged to have worked with Michael from the beginning.''

Schumacher said he hasn't decided what he will do when the season is over and said he just wants to focus on the final six races of the season.

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