Associated Press
Monza, Italy, Sept 10: Seven-time world champion Michael Schumacher announced his retirement from Formula One on Sunday, moments after winning the Italian Grand Prix.
The Ferrari driver will leave the sport at the end of this season, following the year-ending Brazilian Grand Prix on October. 22.
"One day the day has to come and I felt this was the moment," Schumacher said after closing to within two points of leader Fernando Alonso in the drivers' standings.
Schumacher added that he wanted to make the decision now so teammate Felipe Massa could work out his future with the team. Ferrari also announced that Massa will continue next season and be joined by Kimi Raikkonen, who moves over from McLaren-Mercedes.
Raikkonen to replace Schumacher: Ferrari
Finland's Kimi Raikkonen will replace Michael Schumacher at Ferrari next season, the Italian Formula One team announced on Sunday.
McLaren's Raikkonen, who came second to Schumacher at the Italian Grand Prix, will drive alongside Brazil's Felipe Massa in 2007.
"There was no reason for me to make my decision any later than (Massa) had to make his," Schumacher said.
The 37-year-old Schumacher will retire with every major record in Formula One. His seven titles are two more than Juan Manuel Fangio's five and he trails Alonso by only two points with three races remaining this season.
"Soon my future will belong to my family," Schumacher said in a statement. "But for now, what matters is this world championship."
Schumacher won his first two titles with the Benetton team in 1994 and '95, then restored Ferrari to prominence with five consecutive championships from 2000-04.
Schumacher showed signs of vulnerability when he won the 2003 title by only two points over McLaren-Mercedes' Kimi Raikkonen. The German responded with another dominant year in 2004, though, winning a record 12 of the first 13 races.
Alonso ended Schumacher's title run last year, as Schumacher and Ferrari struggled to adapt to rule changes intended to stop their dominance.
Ferrari attributed the problems to its Bridgestone tires. Schumacher won only one race, the United States GP that only six drivers contested due to safety concerns with rival Michelin tires.
"I really loved every single moment," Schumacher said of his career.