Daniel Ricciardo has confirmed he will part ways with the McLaren Formula 1 team at the end of the season.

Read more: McLaren explains Ricciardo departure

News of the Australian’s departure came via a statement from the squad.

“It’s been a privilege to be a part of the McLaren Racing family for the last two seasons but following several months of discussions with Zak & Andreas we have decided to terminate my contract with the team early and agree to mutually part ways at the end of this season,” Ricciardo said, according to the team’s statement.

“I’ll be announcing my own future plans in due course but regardless of what this next chapter brings, I have no regrets and am proud of the effort and work I gave McLaren, especially the win in Monza, last season.

“I’ve enjoyed working with everyone at McLaren both trackside and back in Woking and will be giving my all on and off track as we enjoy the remainder of the season together.

“I’ve never been more motivated to compete and be a part of a sport that I love so much and look forward to what comes next.”

Team Principal Andreas Seidl, Ricciardo’s strongest public supporter, added: “I would like to thank Daniel for his dedication and contribution over the last two seasons so far.

“Despite the shared challenges, he has always turned up with a fighting spirit and positivity and helped the entire team to always keep pushing forward.

“We will never forget that memorable race win in Monza which was a great boost for the whole team.

“We still have an important battle in the constructors’ championship ahead of us for the remainder of the season and we look forward to battle this out with Daniel and Lando [Norris].”

Pressure on Ricciardo has been mounting over the past 12 months.

However, comments made by Zak Brown, CEO of McLaren Racing, ratcheted that up in the days prior to the Monaco Grand Prix.

“Daniel has been a great addition to McLaren, and it’s been a pleasure working with him,” he said of Ricciardo’s impending departure.

“I’d like to thank him for all of his efforts over the last two seasons both trackside and back at base.

“It’s no secret that we hoped we could achieve more together but seeing him stand on the top step of the podium as a McLaren driver was a highlight.

“We wish him well for the future and let’s go enjoy the rest of the season together.”

More on this story: Ricciardo: ‘This isn’t it for me’