Ralf Schumacher agrees to deal with Toyota

LONDON (Ticker) -- Ralf Schumacher will leave Williams and race for Toyota next season after signing a three-year deal, the Japanese team announced Wednesday.

The announcement was widely expected in the paddock, with Schumacher rumored to be demanding one of the most lucrative contracts in Formula One.

However, Schumacher said money was not a factor in his decision to leave a multiple world champion team for one that has scored just 26 points in three years of grand prix racing.

"Money played no part in my decision," Schumacher said on his web site. "I have earned so much in the last few years that I do not need to worry. Money is and never was my motivation to be in Formula One.

"I decided on a vision. I think I maybe join Toyota at the midpoint of a project, whose long-term goal is winning world championships. Also I have my big ambition, the drivers' world championship. That is not abandoned -- entirely the opposite. I am young enough and motivated enough to make a new start in order to reach this goal."

Toyota has one of the largest budgets in Formula One -- with Ferrari said to be the only team to spend more. But Toyota has struggled to move beyond occasional points finishes and Schumacher admits their vast resources are no guarantee of success.

"I know you cannot buy success and I also know that Toyota does not become a winning team overnight by signing me," Schumacher said. "But I can promise that I will do all in my power. I will put all the experience of eight seasons in Formula One into this project in order to bring it to a successful end."

Toyota team principal Tsutomu Tomita would not confirm who Schumacher's teammate will be in 2005. Olivier Panis and Cristiano da Matta are in the final year of their contracts with Toyota.

Schumacher's departure leaves Williams chasing two new drivers for next season, with Juan Pablo Montoya on his way to McLaren. Mark Webber is expected to fill one seat while the other is less certain. Speculation has linked the likes of Jacques Villeneuve, Anthony Davidson and Giancarlo Fisichella.

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