FERRARI HAS CONFIRMED the worst kept secret in Formula 1 by announcing it has secured the services of Belgian Grand Prix pole winner Giancarlo Fisichella until the end of the season.

Despite early concerns Force India would reject Fisichella's plea to fulfil a lifelong dream, team boss Vijay Mallya agreed to release the Italian from his contract, saying it would have been wrong to deny him such an opportunity.

"For any Italian driver, a Ferrari race seat is a long-held dream and for Giancarlo it was no exception. No one should stand in the way of this," he said.

"Furthermore the agreement will secure Giancarlo's long-term future with Ferrari and it would be incorrect to jeopardise this, particularly when Giancarlo has made such a vital contribution to Force India."

You can add BMW to the list of manufactures scaling back their motorsports endeavors. The company just announced it will pull out of Formula One at the end of the 2009 season. The move mirror’s Honda’s decision to abandon the sport before this year’s competition, though BMW says its move is less motivated by finances. Instead, the German manufacturer says it quit F1 because the sport no longer fits with the company’s new plan for viability and sustainability. Of course, we’re guessing the BMW-Sauber team’s lackluster performance this season had more than a little do with the decision. While fans of the company team will likely be disappointed by the news, BMW says it will devote funds from the racing program into new drivetrain solutions. [Source: BMW]