Just minutes after his teammate Romain Grosjean said he would not stay in the outfit in 2021, Magnussen announced that he would not stay either.
“The 2020 Formula 1 season will be my last with the Haas F1 team,” the Dane wrote on Instagram.
“I’ve had a great time with the team for four years and I look back on a great journey. It was a challenge to be part of a brand new team that I really enjoyed and it has given me a lot of experience that has helped me to grow and develop as a racing driver.
“I would like to thank Gene, Günther and the entire racing team for their loyalty and their trust in me over the past four years.”
With very few cockpits available in F1 for next season, Magnussen is unlikely to secure a full-time racing seat elsewhere in 2021. However, he could take on a reserve or development role in planning a return for the following season.
He added: “I am still working on my future plans which I will announce in due course
“There are six races left this season and I am determined to give everything to reach a high point. Thank you for your support.”
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The 28-year-old Dane has been on the American squad since the 2017 season, having joined Grosjean a year after he joined.
Magnussen scored 96 points for Haas and set the team’s only fastest lap at the 2018 and 2019 Singapore Grand Prix.
His exit from Haas also leaves Magnussen very limited opportunities to stay in Formula 1 next year as there are very few places available.
“I would like to thank both Romain and Kevin for their hard work and dedication to the Haas F1 team over the past few seasons,” said team principal Gunther Steiner in a statement.
“Romain and Kevin made a significant contribution to this success. Of course there are still a lot of races in the 2020 season.
“It was undoubtedly a challenging year, but both drivers gave everything behind the wheel of the VF-20.
“We appreciate your contributions and experiences in helping the team advance to the Abu Dhabi Grand Prix in December.”
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