Publications
Partners
Paris, France - Pastor Maldonado revealed on Monday (February 1) he has lost the drive with Renault for the 2016 season, with reports suggesting Kevin Magnussen was poised to join the former Lotus team.
Maldonado has been due to continue with team alongside Jolyon Palmer, son of former F1 driver Jonathan Palmer.
'I won't be on the grid'
Maldonado confirmed his departure on Twitter: "Today with the biggest humility I inform you that I won't be on the grid at the start of the 2016 season. Thanks for all the messages of support, passion and concerns about my future.
"I'm very thankful to God, my family, my sponsors, my friends, my fans and everybody who has helped me materialise this dream of having represented Venezuela in the pinnacle of motorsport. See you soon!"
According to Autosport, Magnussen will be confirmed as Maldonado's replacement on Wednesday.
The young Dane returns to F1 four months after losing his drive with McLaren.
Maldonado, the winner of the 2012 Spanish Grand Prix, was let go after a hitch with funding from his backers, PDVSA, Venezuela's state-owned oil and gas company.
Maldonado has started 95 grand prix over six seasons with Williams and then Lotus.
There are now only two seats still to be filled for 2016, at Manor Racing, with in the frame Germany's Pascal Wehlein and Indonesian Rio Haryanto.