Kevin Magnussen, Romain Grosjean to leave Haas at end of 2020

Hamilton: I'm like a manager, CEO and driver in one (4:22)

Nic Hamilton explains why he's worked hard to create opportunities, not rely on his brother Lewis. (4:22)

Kevin Magnussen and Romain Grosjean will not remain with Haas next year, meaning the American Formula One team will have an all-new lineup for 2021.

Magnussen and Grosjean had been retained since 2017, but the team has opted to go a different way for next year. Grosjean has been with the team since its debut in 2016.

The two drivers confirmed the news on their social media channels on Thursday.

Mexico's Sergio Perez seems top of the list of potential replacements following Racing Point's decision to replace him with Sebastian Vettel for next season. Perez is one of Mexico's most popular athletes and would likely help increase Haas' marketability in North America.

Ferrari junior and F2 championship leader Mick Schumacher, son of seven-time world champion Michael, has been tipped for a seat with the team, as has well-funded Russian driver Nikita Mazepin.

It seems unlikely Magnussen and Grosjean will find a seat on the 2021 grid with limited options available. Grosjean has spoken of an interest in series away from F1, such as Formula E or the World Endurance Championship.

Magnussen and Grosjean will now be on the market for 2021, albeit with a limited number of realistic F1 options available. Williams has both its drivers tied up for another year, but there have been reports new owners Dorilton are looking for a way out of Nicholas Latifi's and George Russell's contracts.

Magnussen, 28, did not confirm future plans, but ESPN understands Formula E and IndyCar are under consideration.

"I have had a great time with the team for four years and I look back at a great journey," Magnussen wrote. "Being part of a brand new team has been a challenge that I have thoroughly enjoyed and it has brought me a huge amount of experience that has helped me grow and develop as a racing driver.

"I would like to thank Gene [Haas], Guenther [Steiner] and all of the race team for their loyalty and trust in me over the past four years.

"I am still working on my plans for the future, which I will announce in due course."

Grosjean's post to Facebook suggested he has accepted the end of his F1 career.

"The last chapter is closed and the book is finished," he wrote. "I've been with Haas F1 Team since day one. Five years during which we went through highs and lows, scored 110 points in 92 races, but the journey was worth it.

"I've learned a lot, improved to be a better driver as well as a better man. I hope I've also helped people in the team to improve themself. This is probably my biggest pride, more than any of the crazy first races in 2016 or the fourth at the Austrian GP 2018.

"I wish the team all the best for the future."

More to follow ...