Paris, July 29 (DPA) Motorsport's ruling body, the FIA, reacted with disappointment Wednesday to the news that German carmaker BMW is pulling out of the sport at the end of the 2009 season, blaming the global recession for the decision.

'It has been clear for some time that motor sport cannot ignore the world economic crisis. Car manufacturers cannot be expected to continue to pour large sums of money into Formula One when their survival depends on redundancies, plant closures and the support of the taxpayer,' said the organization in a statement.

BMW chairman Norbert Reithofer announced the news of the company's withdrawal from the sport earlier Wednesday at a press conference at the carmaker's headquarters in Munich.

'The board decided yesterday that we would change our involvement in motorsport. The BMW group will end its involvement with Formula One at the end of the 2009 season,' said Reithofer in the company of BMW-Sauber team principal Mario Theissen.