BMW quitting F1?

BMW have denied rumors that they’re on the verge of pulling out of Formula One. Rumors arose that the German luxury carmaker were considering quitting after yet another disappointing start to the season with Williams.

"If we are always driving at the back, the money is badly invested," German magazine Der Spiegel quoted works council chief Manfred Schoch as saying. The magazine added that BMW spends well over 200 million euros ($257 million) a year on F1.

However, the company’s chief executive, Helmut Panke, has denied the reports, "We are not satisfied with the sixth and seventh places and we are in intensive discussions on how to do better, but Formula One and BMW belong together," he told Reuters.