The news on the streets today is that BMW is on the verge of announcing their shock withdrawal from the world of Formula One. Just when it seemed like a new Concorde Agreement, that would see teams commit to the sport until 2010, would be signed this week, BMW has called an emergency press conference to discuss ‘current developments in Motorsport’.

While this may not be an announcement that they will be following in Honda’s footsteps and leaving the pinnacle of Motorsport, their current fall from the top three gives the majority good reason to believe it is.

The added twist to this tale is that according to the Daily Mail, BMW’s pullout could very well see their Polish driver Robert Kubica become the man to save the day at Ferrari by standing in for the injured Felipe Massa before going on to drive for the Maranello based squad next season.

More information on this subject when it becomes available later today.