F1: McLaren CEO confirms release of Magnussen

Kevin Magnussen prior to the 2015 Australian Grand Prix in Melborne. Magnussen competed in the first race of the season after Fernando Alonso was sidelined for medical reasons. Since then, Magnussen has been the reserve driver for McLaren.

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McLaren has confirmed, via statement from McLaren CEO Ron Dennis, that Kevin Magnussen has been dropped for 2016.

"Evidently, we have no space for him at McLaren-Honda as a race driver next year, but there is no shame in being edged out by two world champions, Fernando (Alonso) and Jenson (Button)," Dennis said. "We wish Kevin well, and will do all we can to help him successfully embark on the next chapter of his racing career."

Magnussen’s option with the team came Sept. 30, but following the confirmation of Button, Alonso insisting he is at McLaren to stay, as well as Stoffel Vandoorne winning the GP2 title, there will be no room for Magnussen next season.

Even without Vandoorne’s emergence, Magnussen has been adamant about not spending another year as a reserve driver. However, he still has the potential to be on the grid in 2016, as he remains in contention for a Lotus/Renault seat.

In confirming Magnussen’s departure, Dennis had many words of encouragement for Danish driver.

"Kevin has always done a very impressive and professional job for McLaren in the five years since he joined our Young Driver Program in 2010," Dennis said. "In 2014, he raced very well alongside Jenson, who is a hugely experienced and a very quick world champion."

Magnussen was informed of McLaren’s decision via email Oct. 5, which also happened to be his 23rd birthday.