Kawasaki pull out

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The team, who have competed in the series since 2003, ended a week of speculation over their future by confirming their withdrawal.

"In a quick-changing business environment, Kawasaki have been promptly taking countermeasures to cope with the situation," read a press release. "As the world economy is not likely to recover in a short period due to the major impact of the financial crisis, Kawasaki have decided to suspend their MotoGP racing activities from 2009 season onwards and reallocate management resources more efficiently."

Kawasaki have become the latest Japanese motor-sport victim of the global credit crisis, with Honda announcing last month they were quitting Formula One and Subaru and Suzuki withdrawing from the World Rally Championship.

The release added: "Kawasaki will continue racing activities using mass-produced motorcycles as well as supporting general race-oriented customers.

"Mr Yoshio Kawamura, the managing director of Kawasaki Motors Racing BV, deeply appreciates the contribution and the dedication brought by staff members of the MotoGP team."