Salo Plans to Retire at the End of Year

Finn driver Mika Salo announced today that he will retire from Formula One at the end of the season, when his current contract with Toyota expires.

The 35-year old, who made his Grand Prix debut back in 1994 with the Lotus team, had a year to run in his contract with the Japanese squad, but the team said they had reached a mutual agreement to finish their partnership one year earlier.

At the same time, Toyota announced that Frenchman Olivier Panis would drive for them in 2003.

"It's the end of my Formula One career," he is reported to have said in the Spa-Francorchamps paddock by French news agency AFP. "I am leaving at the end of the season.

"I have driven millions of kilometres in an F1 car. In a way it is a relief that it is over," Salo said in Radio Finland. "The work with the new team has been enormous. I have had to take part in many other things in addition to driving.

"I do not want to go to any other team any more. It would have to be something really special for me to even consider staying in F1. I am not sad that I am not driving next year. I am getting reasonably compensated by Toyota."

Salo, who has competed in 107 Grands Prix up until now, has driven for Lotus, Tyrrell, Arrows, BAR, Ferrari, Sauber and finally for Toyota. His best result was a second place at the 1999 German Grand Prix, when he was standing in for World Champion Michael Schumacher at Ferrari.