Kawasaki quit MotoGP over credit crunch

Kawasaki today pulled out of MotoGP due to the economic crisis.

The team have competed in the sport since 2003 but there has been speculation over their future all week.

"In a quick-changing business environment, Kawasaki have been promptly taking countermeasures to cope with the situation," said the company. "As the world economy is not likely to recover in a short period due to the major impact of the financial crisis, Kawasaki decided to suspend their MotoGP racing activities and reallocate management resources more efficiently."

Kawasaki are the latest Japanese motor-sport victim of the global credit crunch, with Honda quitting Formula One and Subaru and Suzuki withdrawing from the World Rally Championship.