Ferrari boss Jean Todt may have a sleepless night tonight, given the announcement this evening that Michael Schumacher will be retiring from Formula 1 racing immediately after an unprecedented seven World Drivers Championships and over eighty wins, by far the most in the history of the sport. "We knew this day was going to come eventually, and I am happy for Michael. His relationship with Ferrari has been very successful, and he will always remain a part of the Ferrari family," said Todt. Schumacher was unavailable for immediate comment but the rumor of his impending retirement ran rapidly through the paddock, this weekend racing in Bahrain. Team Scuderia Ferrari has had a rocky start to the season, with both drivers, Schumacher and teammate Brazilian Rubens Barrichello suffering setbacks in the early races of 2005. Finally, after a crowd of media gathered around Ferrari's garage area, and a visibly shaken Ferrari Technical Director Ross Brawn addressed the crowd first, "Look guys, I won't lie to you...I'm scared...I mean like really Jaws or Excorcist scared...Michael is probably the best driver we have...I don't know what to do...somebody hold me." None other than Michael Schumacher himself comforted Brawn, even offering one last jump into Brawn's arms, as has been witnessed a few times on the podium of Schumacher's victories. After a long embrace and handing Brawn an officially licenced Scuderia Ferrari handkerchief, Schumacher finally spoke to a silent throng of reporters. "I would like to thank all of members of Ferrari for all of their hard work since I joined the team nearly ten years ago. Driving for Ferrari has been a privilege and honor. That I could bring the Constructor's Title back to Italy and Ferrari makes me happy for all of the fans of the team. I have carefully considered my options, and have decided that retirement is the best course for my life at this time, winning all the time has become a little bit mundane," but Schumacher then continued... "Over the years I have numerous rivals and challengers for the title. Mika Hakkinan was the only one who really challenged me, but at the time our car wasn't very good. Hill and Jacque may have also won championships, but the Williams was so much better at that time even a driver of my immense talent couldn't make up the difference. The drivers today don't scare me at all, I've beat them while in the throes of grief, when I was sick and feverish, and even when my car was missing half of its gears. No big deal. When asked what Michael planned to do after retirement, he added, "After a month long holiday I will begin my new position as the head of product development at Lamborghini SPA". With that Schumacher excused himself from the impromptu press conference and disappeared back into the garage area.