Toyota set to leave Formula One

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Clarification over the team's future is expected at a press conference on Wednesday morning, with the company expected to seek a buyer.

Honda and BMW have already quit the sport, and Toyota are said to be leaving F1 for financial reasons.

The Japanese car maker's president Akio Toyoda is set to confirm the end of the F1 branch of the business at 8am GMT in Tokyo.

Toyota have competed in Formula One since 2002, having previously focused their motorsport interest on rallying.

Despite heavy investment in the team, they have never won a race, although they had 11 podium finishes, including three in the 2009 season in which the team finished fifth in the manufacturers' standings.

Their drivers have included Ralf Schumacher, Olivier Panis, Allan McNish and this year's line-up of long-term team member Jarno Trulli and Timo Glock.

Glock, who was injured, was replaced for the final two races of 2009 by Japanese driver Kamui Kobayashi.