Sebastian Vettel says financial considerations were not at the forefront of his and Ferrari's joint decision to part ways at the end of 2020.
The Scuderia confirmed on Tuesday morning the amicable split with Vettel after six seasons together, the last of which has yet to get underway.
Vettel joined Ferrari at the end of 2014 season after a very successful six-year stint with Red Bull Racing that had yielded 39 wins and four world titles.
Vettel was perceived as the perfect man to bring the title back to the House of Maranello for the first time since Kimi Raikkonen's drivers' crown in 2007.
While the German conquered 14 race wins with the Italian outfit, his efforts fell short of securing the world championship, although he came close to achieving the feat in 2017 and 2018, but bot opportunities were squandered by mistakes from team and driver.
The emergence last season of Charles Leclerc and the subsequent pressure exerted on Vettel eroded the latter's status within the team, leaving him in a position of relative weakness when contract talks were initiated.
"My relationship with Scuderia Ferrari will finish at the end of 2020," Vettel said in a press release issued by Ferrari on Tuesday morning.
"In order to get the best possible results in this sport, it’s vital for all parties to work in perfect harmony. The team and I have realised that there is no longer a common desire to stay together beyond the end of this season.
"Financial matters have played no part in this joint decision. That’s not the way I think when it comes to making certain choices and it never will be."
Vettel alluded to the current coronavirus crisis and the disruption it has brought on the world as a catalyst for his decision to seek a change. But the German offered no insight into his next move.
"What’s been happening in these past few months has led many of us to reflect on what are our real priorities in life," he said.
"One needs to use one’s imagination and to adopt a new approach to a situation that has changed. I myself will take the time I need to reflect on what really matters when it comes to my future.
"Scuderia Ferrari occupies a special place in Formula 1 and I hope it gets all the success it deserves.
"Finally, I want to thank the whole Ferrari family and above all its “tifosi” all around the world, for the support they have given me over the years.
"My immediate goal is to finish my long stint with Ferrari, in the hope of sharing some more beautiful moments together, to add to all those we have enjoyed so far."