Toyota deny they are quitting F1

Toyota have denied that they are contemplating leaving Formula One. Following BMW Sauber s shock announcement that they are leaving F1 at the end of the 2009 season, there has been speculation that Toyota would follow suit and call it quits on the sport.

The rumours have been fuelled by the fact that Toyota have yet to sign the Concorde Agreement that would tie it in to F1. However Toyota are denying that are planning to leave and it is expected that they will be signing the Concorde Agreement in the coming days.

“Through cost reduction we will continue our Formula One activities,” a Toyota spokesperson confirmed to Autosport. “Our situation remains unchanged.”