Gibernau’s team pulls out of MotoGP

Sete Gibernau's MotoGP team has pulled out of the world championship and will not compete in this weekend's German Grand Prix.

The Francisco Hernando Group, who brought the team into the championship for the start of the this season, has announced that it is pulling out of the sport due to financial reasons.

"Grupo Francisco Hernando will not complete the 2009 season," the team said in a statement.

"The reasons for this termination is the world's crisis. The Group has decided to concentrate on its investments, focusing all its efforts in its projects as a promoter and constructor."