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Hakkinen retires from Formula One

Two-time world champion Mika Hakkinen of Finland has retired from Formula One racing, he announced in a video tape played at the German Grand Prix. "Now is the time to retire," said Hakkinen. "Now is the time to stop."

McLaren announced they are staying with their two drivers, Britain's David Coulthard and Kimi Raikkonen of Finland for the 2003 season, effectively eliminating Hakkinen from their future plans. Last year at the Italian Grand Prix in September Hakkinen said he was taking a break from racing.

He said that at the Monaco Grand Prix he informed Ron Dennis, the McLaren team boss, that he wanted to stop, but Dennis persuaded him to take a year off and consider the options. "I have been been through so much in my Formula One career and achieved a lot and I just didn't think it was worth it to push things any further," said Hakkinen on the video.

Filed by Sinéad Kissane

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