Sete Gibernau's MotoGP team has pulled out of the world championship and will not be present at this weekend's German Grand Prix.
The Francisco Hernando Group, which brought the team into the championship for the start of the this season, has announced that it is pulling out of the sport due to financial reasons.
"Grupo Francisco Hernando will not complete the 2009 season," the team said in a statement. "The reasons for this termination is the world's crisis. The Group has decided to concentrate on its investments, focusing all its efforts in its projects as a promoter and constructor."
Gibernau had returned to MotoGP this season after having retired from the sport in 2006. The Spaniard, however, struggled to make an impression with his Ducati, scoring just 12 points in eight races. The veteran rider admitted the news came as a shock to him.
"The first person who is surprised by this decision is me," Gibernau was quoted as saying by
AS newspaper. "We have fought a lot to make this project work. To me it was a brave bet, built from the hope from a team with a target that we were meeting. It's a real shame to quit."
Gibernau's exit leaves the MotoGP field with just 17 bikes.