McLaren and Ricciardo to split ahead of 2023 after buyout

Daniel Ricciardo and McLaren will split at the end of the Formula One season after a buyout was negotiated with the Australian on the final year of his contract.

Ricciardo held the option on 2023 for his seat at McLaren but his performance has been underwhelming through 35 races. Although he did score McLaren's first Formula One victory since 2012 with a win last September at Monza, Ricciardo has been outperformed by teammate Lando Norris nearly every race weekend.

The 33-year-old Ricciardo has just one podium with McLaren and only 19 points this season. Norris has one podium this season and 76 points.

“This will be my last year with McLaren. Obviously we put in a lot of effort on both sides, but it just hasn't worked the way we wanted, so the team has decided to make a change for next year,” Ricciardo said in a video message posted to his social media platforms Wednesday.

“I think for the future, what lies ahead, I am not sure yet. I am not sure yet. But we'll see. I look back on this time with McLaren, I look back with a smile. I learned a lot about myself, I think things that will help me for the next step in my career, but I think just in general in life."

McLaren head Zak Brown in May acknowledged that Ricciardo's seat was shaky and said there were “mechanisms” in which the driver and team could split ahead of the 2023 season. The mechanism turned out to be a buyout since Ricciardo held the option on next season.

Although initial reports suggested Ricciardo was seeking more than $20 million to exit the team early, it is believed McLaren paid $15 million to end the contract.

McLaren is widely believed to have signed F2 champion Oscar Piastri, also an Australian, for Ricciardo's seat. No announcement has been