The end of a good year

AKRON, Ohio: Goodyear has shocked the motor sport world by announcing its withdrawal from Formula One racing from the end of next season.

The tire giant, which has dominated F1 racing for most of the past 30 years, said the main reason for pulling out was the expensive move to grooved tires next year without consulting the company.

However, it is believed that Goodyear wants to avoid a bidding war with rival Bridgestone when its contracts with all the top teams expire at the end of 1998.