ON a track where he lost his 1999 title bid to Mika Hakinnen, seven-time Formula One champion Michael Schumacher in Suzuka, Japan, was lauded as the “driver of the century” after he announced the end of his stellar, often controversial career, after a lackluster return to the sport.

The 43-year-old, who previously quit the sport in 2006 before returning two years ago, said he had decided to call time on racing after it was announced that McLaren driver Lewis Hamilton would move to his Mercedes team next year. Hamilton, 27, won the drivers’ world championship in 2008.

Schumacher’s decision brings down the curtain on a hugely successful 21-year career in the sport and more than 300 races, during which time he has become one of the world’s most recognizable and successful sportsmen.

“I have decided to retire at the end of the season,” the German driver told an emotional press conference in Suzuka. “I still feel I am capable of competing against the best but the time comes to say goodbye, and this time it might be forever.”

Since the announcement about Hamilton’s move, speculation had swirled that Schumacher could continue his career with another team, with Sauber expressing its interest. But Schumacher said that although he still felt he could compete—and vowed to concentrate on the remaining races this season—he no longer felt the same drive, motivation and energy to race on.

“It is not my style to go on if I’m not 100 percent with it but with my decision I feel relieved,” he said. “I have been thinking about retirement for quite a while. I said in 2006 my battery was empty and now I am in the red zone. I don’t know if there is time to recharge but I am looking forward to my freedom.”

To some Formula One fans, Schumacher was the ultimate champion, while to others, he was an unforgiving, hard racer involved in too much controversy, not least his duels with fellow drivers Damon Hill and Jacques Villeneuve.

But few can argue with the results and the statistics—seven drivers’ titles, more than 300 races, 91 wins, 68 poles and 77 fastest laps in a record-breaking career. Two of his world titles came with Benetton in 1994 and 1995 and five consecutive championship wins with Ferrari from 2000 to 2004.

He retired from Formula One for the first time in 2006 before returning in 2010 on a three-year contract with Mercedes. But his comeback failed to match his spectacular early career and he claimed just a single podium finish in 52 races. He is currently 12th in the overall standings.

Schumacher’s retirement will come after the Brazilian Grand Prix at Interlagos on November 25.

Mercedes team principal Ross Brawn and motor sport boss Norbert Haug were at Schumacher’s side when he made the announcement.

“I think he is the greatest racing driver of this century,” said Brawn. “I was very privileged to work with Michael from the very beginning and obviously we had some fantastic times, tough times too, but also very successful times. I think Michael brought a lot to the team in this second period that people don’t see. There was a huge contribution behind the scenes.

“We have not achieved what we wanted to achieve together, and that is frustrating, but I think what we do achieve in the future, Michael will have made a contribution to it, Brawn said.

Schumacher’s Mercedes teammate, Nico Rosberg, was among many drivers who paid tribute to his contribution to Formula One.

“This is a huge loss for our sport, many fans have been following his return to Formula One with interest,” he said. “I am very, very lucky that I had him as a teammate for three years. I have huge respect for his achievements.”