Kevin Magnussen and Romain Grosjean to leave Haas F1 team for 2021 season

Just minutes after his team-mate Romain Grosjean said he would not be staying on with the outfit for 2021, Magnussen made clear 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."

Haas team boss Guenther Steiner expressed his gratitude for the effort Grosjean and Magnussen have put in since joining the team.

"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," commented Guenther Steiner, Team Principal of Haas F1 Team.

"Romain was a fundamental part of our establishment as we sought to get a driver onboard with both speed and experience.

"His results in early 2016 were a just reward, not only for his own talent, but also for the sheer amount of effort the team had put in to be on the grid that season.

"When Kevin joined a season later, we saw an immediate return with both cars scoring points, and of course, our first double points finish in Monaco that year.

"We have a lot of good memories together - in particular our 2018 season when we finished fifth in the standings in only our third season.

"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."